I think there is a huge opportunity here and I'm a little surprised that it's not a stronger topic of conversation. 

Like GOLD, those who were and are tragically affected by the tragic CAMP FIRE of 2018, will NOT be destroyed but refined and made stronger and better than ever before; and, new steps and precautions will help prevent this from ever happening anywhere else.

That is the thing that has always scared me about the whole process.The good news is you can screen all applicants the same in other areas,  so make sure you have credit/civil/criminal (not in seattle)/references criteria that you are comfortable with even if your applicant is fully subsidized.If your particular applicant has $1700ish income on their own they are probably among the stronger sec8 applicants around;  might be worth giving them a shot if the rest of their background check comes back decent.

@Eddie Majesky as long as the payment history it should not really matter but the longer the trade line is open the stronger it looks in regards to your credit.

You are correct that you can set this all up yourself, with the exception to needing a signature by a Registered Agent - which can even be purchased for a small fee.I want to preface this explanation by stating that this is a system that I find is my "go-to," but there are stronger entities that cost much more as well as cheaper entities that don't protect you as well.

It is a great strategy and as the market has gotten stronger it has become tougher to do.  

I have tenants in it as of now for about a year...until then I’ll be making my team stronger and saving.

So my $0.02 is that first, if you are concerned about going at it alone, read more books to get a stronger foundation.

as low as 5% down on 2-4 unit, lower mortgage insurance premium and no upfront insurance payment at closing, and it's a conventional loan so stronger offer and less red tape than the FHA. 

I don't know all the facts but if you are looking for financial growth and a stronger return on investment, I would use the cash on hand to purchase another investment (or more).