I don't have any of their financials yet but expect that they ran solidly for years with a knock from covid.

House hacking with friends can be a great way to share both the benefits and risks, but you definitely want to set the right expectations from the start.The key to making this work is transparency.

@Beruk LessaneworkRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

They are expecting your call!

Since you asked about underwriting, you could potentially have other revenue such as add on services so I would t rely on solely platform revenue in this case. 

The program was created to give low-income tenants an alternative to living in federal project housing.S8 sets their rental rates to the LOW-END of market averages, if not slightly below.What the gurus do NOT tell you is they expect you to get a Class C S8 tenant to rent a Class D property.

The property sold successfully and exceeded our profit expectations.

Manage your expectations. 

Memphis investors, is it realistic to expect deals where I can buy a SFH for $100,000, spend $40,000 on renovations, and then have it appraised for $170,000+?

Any reputable contractor has material accounts everywhere and doesn't expect to be paid for labor S/he hasn't yet performed.