Looking forward to hearing how everyone approaches these challenges and learning from your experiences.

Majority of our landlords don’t want the section 8 approach since it is so time consuming to get approved and get a tenant in however they tend to be the more long lasting tenants and then you never have to chase your money as long as you maintain the property 

This approach is seems so wrong and has discouraged me from expanding my portfolio in Philly.

It’s a solid approach, especially if you’re working with a smaller budget.

While this option is the most accurate land valuation approach and least likely to be challenged by the IRS, it is also the most costly and can require several weeks to complete the process.Limited-scope land appraisal: A limited-scope land appraisal can be completed by a real estate professional who provides an analysis of sales comparisons or other limited metrics.

My question is what is the suggested approach for renting a unit out of the home and living in the other?

Less risk if you use a data-driven approach, and a great way to get a feel for the numbers before you commit to owning.

Overall, I have a system and take the long term approach/vision.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.