@Andrew Slezak I'm working through the Sec8 process for the first time so take this with a grain of salt, but my understanding is they will pay the lesser of the following two prices:1) the market rent of your property, determined by comps, and2) the FMR minus any utilities you don't include.

As you begin you REI journey here is a piece of advicecheck out this website for a great over view of a city https://www.areavibes.com/This website gives you a total livability score and you can see things like crime rate, housing, walking score and more.Best of luck!

(My credit scores are solid.)Thank you in advance for any feedback.

With your considerable experience and, I'm assuming, strong credit score, you would be well-positioned to receive high leverage and low rates from most private lenders.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Do you do background/credit score checks on all applicants and have minimums? 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

As for non-bank loans, I'm familiar with a loan program that provides 100% financing, but it requires a minimum 650 credit score and proof of funds covering 12 months of interest.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

I'm new as well congratulations on you're first property me and my fiance was going to start a real estate business but she has cold feet so i already have a LLC she the one who has the 820 credit score and I'm getting mine back in order we both have one property each i just loss my contract for my business so I'm thinking about using the equity from my home or turn my home it a bordering house just need some mentoring