You have to understand that these people don't care about anything, and the government people are overworked and will not follow up with all the small cases. 

Flatline population growth is a sign of a poorly managed state and large or soon to be large, government debts (e.g., Illinois).

I am mostly seconding what almost everyone else is saying, but as Tenant laws vary by state you need to find an attorney from NM with credible knowledge. 

Lastly, your going to want to get with local governance, a lot more then normal.

If not, then you really need a strong legal structure stating how these properties will be governed going forward, including management, tenant selection, capital expenses, etc.

These loans do come from banks directly (Fannie/Freddie loans come from the Federal Government) so each bank that offers these types of mortgages might have slightly different requirements. 

Whether we agree with these items or not, the following are inflationary government policies: stimulus, student debt relief, tariffs, increased child tax credits, limited immigration, and big government deficit spending.

The NAIC—the National Association of Insurance Commissioners—is the regulatory support organization created and governed by the chief insurance regulators in the United States.5.

Why someone willingly wants to work with a government agency that will slow down turnover, dictate rents and rent increases, and dictate repairs is beyond me. 

When valuing the property, focus on its net operating income (NOI) and use a cap rate that reflects Section 8’s stable, government-backed rents.