Once the tenant applies for the unit, you'll have to work with the tenant and Section 8 to get approval, which always includes an inspection of the unit.

That board would then approve or deny which would send the bill to the councilpersons for an official vote to put into effect.  

Banks, on the other hand, can take weeks, if not months, to approve and fund a loan.Another big plus is the flexibility in qualifications.

Last time MF was built in scale in my area was the mid 80s, and getting approval for MF construction is even more challenging/next to impossible.

I would say get connected with a local agent and also set up with a lender that has you pre approved to make it super easy making offers.

This doesn’t include any raises or bonuses.No kids yet, but we plan to have them down the line.Both of our credit scores are over 800, and we have no debt.The plan:I know sellers don’t always love FHA loans, and they can be tough to get approved for, but I’d like to use one to make this work.

Organizational Delays: Section 8 offices are often overworked and understaffed, leading to slow processing times for new tenants, delayed rent increase approvals, and poor responsiveness.Benefits of Section 8:1.Long-Term Tenants: When you get a good tenant, they usually stay for a long time because of the tedious process required to qualify for Section 8 housing.2.Consistent Income: If Section 8 covers most or all of the rent, you typically receive reliable monthly payments, reducing the risk of non-payment (as long as there isn’t a large tenant portion).3.Lower Barrier to Entry: Because properties in these areas are often more affordable, it’s a good way for new investors to break into real estate without needing a large amount of capital.Overall, I’ve seen the good and the bad of this strategy.

No problem with down payment but will need conventional load which is not a problem as I have been pre approved many times just did not find right property.

It was great to get our heads in the game, and got us to move quicker to get a house (since we were basically forced to get a pre-approved loan in order to tour houses...).

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio.