There are some zip codes where you can indeed get above market rent with S8 (even after deducting utility allowance), but some where they are lower.

Which you want to lower?

In a market like this where properties are sitting a bit longer, buyer demand is kind of stagnant, many appraisals have been coming in lower than anticipated.

Most listings have 2.5-3% allocated to the buyers agent already written into the listing agreement but you could write into the offer something lower, adjust the offer price lower accordingly and then pay your agent directly instead. 

I'm also considering Halethorpe because it's a good commuter location.Some people really like supporting the city in which case , northeast Baltimore would seem to the best place to buy a single family, in my opinion given the taxes situation and given that none of those areas are walkable I’d rather just be in the county and pay Lower taxes, and it’s not like northeast Baltimore is much that much cheaper than Baltimore county, hathorpe is mixed, arbutus is nice, I hate the housing stock there, would rather be in Catonsville if I was considering western Baltimore county. 

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

The Heloc can also pose as a debt obstacle since its an open end mortgage a.k.a credit card.a mortgage is also set up over 30 years so it offers a lower rate and payment. 

Cheap houses in lower class neighborhoods will get you cash flow with a lot of headache.

Just google the following: - special assessment - zombie condos - Florida condos (look for recent news)Since you are not living near the properties anyways, why not look in a landlord friendly state where the purchase prices are lower?