We embrace S8 applicants, but screen them just like any other applicant.Many have an entitlement mentality and try to leverage their S8 voucher by pretending to be helpless:1) A percentage won't apply because they expect a landlord to waive application fees for them.2) Many cry broke and expect a landlord NOT to charge them a security deposit.3) Many of those same S8 tenants trying to avoid paying a security deposit, won't make an effort to call the list of nonprofits we send them that will pay their security deposit if they apply.4) A lot of them try to avoid paying for utilities.

Are you suggesting this wasn’t a result of pent-up demand but rather due to some other factor?

Perhaps in return they collect an acquisition fee,  collect a construction management fee & share in a portion of the upside.

Just call a local real estate attorney , they will draft up a note and deed of trust for you for a fee :)

So let’s examine the key factors that can help investors sort through these remaining subset1.

Additional Fees. 

Some of these bookings we get through marketing partners who build these relationships and charge referrals fees for finding the housing.

But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert.

You can do whatever you want in terms of bending for the tenants and trying to provide "great service,' but the truth is you receive no credit for it and will be the evil landlord at the first repair that takes too long, late fee owed, alternation denied, etc.  

Myself I think if one wants to get into real estate in CA you get into the bizz you get licensed so you can legally collect fee's you put in the hard work like most wholesalers have to now..