I understand that a lot of units in ATL are now accepting section 8, so newer, nicer properties are taking the tenants.Possible strategies:-Just lower the rents to the lowest price I can find for a 4BR in Atlanta -- probably around $1200 or $1300, and get a market tenant in there.

There thinking goes something like this - I can buy this great property for $5 million cash flowing $600k per year (they neglect expenses).  

We are quickly moving that direction as there is obvious value in using them. 

Anyone out there with experience in a similar situation?

There are a few more “big ticket” items that need to be considered (Minisplits & landscaping) but most of the major costs have already been accounted for on this property.We currently have a 30 year conventional mortgage with a 7.125% rate on a purchase price of $750k. 

There are still plenty of deals out there, you just need to know where to look and how to get in front of them first.One of the best ways to find deals is by working with wholesalers.

Are there any alternatives to review?

There is no public database for property values.

Even with assignment deals from wholesalers, if there are things that were not disclosed I have been able to get clients out of them.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.