In reality, most older homes will cost you considerably more in maintenance, capital expense, and vacancy (people just generally like to live in and rent newer homes).

Current consideration:1.

I'm actually in consideration of allowing an individual to conduct rental arbitrage with a rental of mine.

The exact amount that you qualify for is a specific number. 

These laws are state specific so check yours.  

I know this was general, but I hope it helps...I'm always around if you have more specific questions. 

Another consideration is insurance.

PMLs exist, there's zillions of them, real estate investors work with them every day and PMLs fill a need and have a role to play as a specific tools for a specific situation.See if you can put a sharper point on your question.Mike Thanks for this Mike! 

Specifically, I'm trying to understand where the most outstanding vouchers are being distributed so I can target the right areas.

Specifically I now track month end account balances, maintenance expenses and have a detailed list at my fingertips of the tenants that are late on their rents.