For my clients, this SCREAMS of building equity, provided the ARVs would support the rehab.

These are the critical tests you will need to achieve and support with a detailed time log.

Also covid was in full swing which caused all kinds of craziness in the real estate market.

What kind of loans are you looking for?

That kind of relationship will help things go smoothly, both in the planning phase and the handoff from when you buy to when your PM takes over.

Make sure to get legal advice on what you can and can’t do for bill back and what kind of notice period is required in your state. 

New investor here trying to stay in my local market (Dayton, OH).Since I've started looking for my first deal I've come across a few section 8 properties that seem to pencil, but I'm a bit loath to jump into that kind of deal.

Unless you have a way to source off market deals or have a crew to provide labor for below market value, you're kind of relying on hope and luck to find a deal that works.

They finally get back to me after the close date to say they need more time because they are try to cross collateralize their other properties to make this deal happen and the bank they were using doesn't do this kind of loan. 

Unfortunately, unless you see the underlying financials as well as supporting data for those financials, you do not know whether there actually was cash from operations to pay your distribution or not.