Here are the numbers:PP - $16,000Rehab - $20,000 ($5k contingency)In the zip the house is in, 3 beds get $940/month max voucher I believe.

According to this article, during the 95-96 shutdown, "Local HUD officials reported that their agency had enough remaining funds to pay Section 8 rent vouchers through the end of December, but there was some question about the status of the January payments."

The seller bought it in Jan for 89k, did a light rehab on two units and sold it in 90+ days fulled rented to DC Voucher tenants--think section 8-.that was about 160k more than we thought the market was at!

In my experience dealing with the BHA is one headache, but it's much easier if the voucher tenants don't have any portion they're responsible for - just one check/deposit reliably six days late, instead of chasing a tenant for $25 also.

The property has numbers that look something like:2/ 3 bedroom, 1 bath units + 1 bedroom in-law unit in basement165k purchase price/ 160k FHA loan w 3.5% downPITI approx 1300 + (200/month for a renovation loan renovating the basement into livable condition) = 1500/month2 above ground Units Currently listed each at 1250/month. both are currently vacant, one is pending Section 8 voucher application.

She is impeccably dressed etc.She unfortunately now as a senior finds herself with only Social Security Disability and Section 8 Voucher, will be getting assistance to pay her utilities. 

If you want to really shake things up check rental rates in HUD and that will give you what the government values the rent at for voucher programs like Section 8 if you are interested and qualify to offer Section 8.

I think it is because the voucher/award tenant has is free money and often find hard to find apartment willing to take section 8, thus accepting higher rents than market.Terry

Also, I work closely with the Housing Authority to ensure that the lease is upheld or else tenant loses their voucher, which is a threat that always get their attention.

ALOT of them mention section 8 and that they have a voucher.