For your property to perform well, I would want it to rent for around $1800 a month to cover expenses and provide some cash flow.

A few things to keep in mind:Section 8 requires the property to pass an inspection based on HUD’s Housing Quality Standards (basically making sure it’s safe and well-maintained).The rent you charge has to align with Fair Market Rents (FMRs) in your area, so it’s good to check what similar properties are renting for.You’ll still be responsible for maintaining the property, but the upside is that a chunk of the rent is guaranteed by the government, which can provide steady income.Check with the local housing authority about any specifics for your area—every jurisdiction does things a little differently.This could be a great niche if you can find a good deal on the land and make sure your expenses (like maintenance, insurance, and occasional vacancies) are covered by the rental income.

You are talking about 22$ an hour per individual for an 8 hour day plus whatever equipment costs they need to cover.

Quote from @James McGovern: I am interested in purchasing a few condos in Florida and want to understand if there are any insurance products that cover the rising cost of HOA assessments? 

If it's mostly fully occupied you can get a full-doc commercial loan as long as it debt covers.

LTV is the subject property is about 49%.  

Just like our BANKERS validate and question our deal analysis, you need to be the BANKER.Majority of the Syndication failures going on right now are due to either Short-term financing used on longer term projects- in a period of extreme interest rate hikes, material Inflation, or Covid related supply chain or personnel issues.You as the BANKER, know that all of the above should have been covered by the Syndicator and by you the BANKER. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

I am wondering if the 2nd position notes in PPR fund are covered by Equity or not?

-therefore, there won't be any net 'cash flow to cover rent' for years.to be clear, i say this not to say "don't invest out of state." investing out of state is fine.