Sounds like you have a lot to contribute here!

I haven't been expanding my business with LMHA since the end of 2016 per my posts above so I don't know exactly what changed, but I expect the outsourcing of inspections to private industry + some executive level leadership + replacement of staff with new faces excited to serve the needs of HUD/Landlords/Those In Need has resulted in an agency I will develop more business with.The HCVP will always be a double edged sword for landlords (See Section 8 Bible discussion) but for now I have discovered it is finally worth the effort to participate in the program.I specialize in Toledo's transition neighborhoods, discounted houses on the edge of nicer areas but also on the edge of trash...the Section 8 program allows me to get long-term tenants who are a good business model provided they are consistently managed and visited/inspected for additional "visitors" (relatives and random dogs/cats) and damage/housekeeping which can destroy a home if left unchecked.You need to know the rules, repair and renovate for long-term durability, prepare for inspections thoroughly and keep a team of contractors who will hold those standards...after 8 years we have been through a hundred inspections.

I'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

It sounds like you are already doing move-ins perfectly with photo evidence and proper documentation.

Sounds great!

A "pre-approval" sounds like a "consumer" mortgage rather than a commercial loan for investment real estate, is that correct?

@Anthony Dupre sounds like you’re buying higher priced assets, so LLCs likely make sense if you’re pursuing commercial MF (5+).

Sounds like a challenging but rewarding project!

Carlos,Sounds like you got burned on a syndication deal.  

My AC unit has another 3-5 years before it’ll need to be replaced so I’m thinking this may be a clean exit before large big ticket items start needing attention in the next 5 years.