Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income. 

I am based in NOLA and have a great property manager.

I'm based out of Fairbanks, Alaska.

Hi Todd, Dayton based here.

I strongly advise you to get your primary residence taken care of FIRST.

Developing strong financial and business acumen is also crucial for success as an investor, so that’s another area where you could focus your efforts if getting a license doesn’t align with your plans.I’m here as a resource—feel free to reach out if there’s anything I can do to help!

Quote from @Derrick Roland II: "but based on my pre-approval"  This is the most important phrase of your post.Where did you get that pre-approval? 

Quote from @Chris Brewer: View report*This link comes directly from our calculators, based on information input by the member who posted.Hey @Chris Brewer, welcome to the BP Forum!

It’s been a strong performer ever since.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.