I am inclined to this option as it would allow me to return home to assist my parents and save money while pursuing my law degree.- Does anyone think this is a sound idea?

However, it seems like it might be too late to secure tenants for this school year.

In our small corner of the market, ~1,000 units in Northwest Ohio, our rent increases are softening, but we are actually at our lowest level of late payments and evictions in over 2 years.

Would be happy to talk with you about our buy box in the area so you have an idea of what types of properties and what areas will give you a good return at the same time offering you those tax benefits. 

In CT, nearly all multifamily properties are old (late 1800s to early 1900s).

If you are going to rent through section 8 housing, don't expect to get a good return on investment.

There are a lot of considerations for both options before you can figure out your expected profit/return.

I've seen a couple I thought would work lately. 

We’re one ofthe few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must =3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedApplicants are often slow about turning this information in, asking us why we need it and then takingseveral days to submit.

Located in a prime area, this property continues to deliver steady income and strong returns.