I'm not talking about cosmetic fixes, I'm talking adding bedrooms within an existing floor plan, creating a second unit (like an ADU), etc.

A buddy has a 5 unit building he needs to sell at 475k.

Given how the housing authority does their rent price determination on individual units, and government ran programs are never beacons of efficient processes, it can go either way.Note, the examples I speak of only relate to C-Class and below areas.

I know some landlord's show up with something for them to sign or fill out that they previously (on purpose) forgot to give them, but you could also just be upfront and say a visit is part of your screening process - you check the condition of the rooms to see how the unit is being taken care of.

Number of units, kitchens, etc.If these things were disclosed it would seem that things should be OK. 

----------------------------------------------------------------------------------------------------If I had to start all over again, I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.

We currently do manage several units to section 8 in Scranton and Wilkes-Barre. 

You can also double hack these if you have enough units and live in one unit and use one unit for your business, but of course that decreases your cash flow but increases your usability.You can also use an FHA loan to get a mixed-use property with only 3.5% down if the residential square footage if more than 50% of the total square footage.

We didn't need to rehab except for a couple units when they became empty and we used cash flow (so no additional capital needed).The rents are now $10,700/mo and we are cash flowing well. 

For example, I looked at one tri-plex that had recently been remodeled with two units being 2/2 @1000 sq feet renting for $2,000 per unit and the third being a 2/1 renting for $1750 asking price of $850K.