Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

There are way to many PM's not getting properties rented and they are staying vacant, there is also way to many rentals being rented less than market rent to get a "quick tenant" causing investors to lose money, you will also need that PM to be completely productive and quick to the applicants and also not trying to incentivize off of your property needing repairs.

I’ve done extremely well so far in the past 5 years of investing by simply meeting with prospective tenants and having a good application to weed out the dead beats.

The investor generally needs 6 months of "reserves" or savings of mortgage, property taxes and insurance (and HOA if applicable).

How to get the maximum rent from secion8 applicants?

I live in a small town and get at least 10 applicants everytime I list.

Beyond that period, new applicants will need to wait until the current active rental list declines by roughly 100 permits. 

Tell them you are offering a renewal but they must complete the application within one week.

And this is not the case for a true flip, as in Basit's #1.Mentioning #2 creates a dangerous incentive to ignore the rules applicable to flipping and rely on a flimsy declaration of "intent" to hold the property as a rental. 

@Zachary R Beale First off if I were you I would make sure I had little to no debt except for my student loans if applicable and potentially a primary residence mortgage.