On the other hand, there’s a part of me that wants to just keep slow and steady without leveraging more debt and buy properties as I can save a 20% down payments.

Either of your scenarios can work.I believe that @Beth Johnson makes these loans and might have something to add.Thank you for the response and the connect!

Let me know of your progress if you would, and we'll both keep an eye out for further responses to this thread.

Appreciate your response!

You receive all the profits - but are also responsible for any failures you may run into.

Hi, thank you so much for your response and the suggestions, this is really helpful. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.There are over 20 real estate accountants on this site.

I feel like it can be costly on utilities but the tenants are responsible for water and electricity anyways.

Landlord can require tenants to be responsible for separately metered utilities, so can avoid waste.Landlord can get annual small increases in rent.NegativesMost of us don’t treat something we get for free the same way we treat something we’ve worked hard to obtain.S8 applicants claim “broke” and don’t like to pay application feesSame goes for security depositsS8 tenants, in our experience, tend to cause more property damage than non-S8 tenants. - Make sure you get a security deposit and perhaps do a surprise inspection of their current home.S8 requires an inspection (mostly health & safety) before approving a lease and then annually thereafter. - Not something most landlords taking care of their properties have to worry about.There are limits to clauses they allow in your lease.

Once the new tenant takes responsibility, release the original tenant from their obligations.