Working with @Benjamin Carver or another good agent to help find and close on a deal will be the key. 

Would it be a good idea to take a deposit to secure the deal until the rule clears?

Maybe the deal would always fall out of contract after the inspection.

@Robert Ok I think it would be advisable to start your REI journey with a "Deal". 

.📜 Know the rules – No "deal-making" in the forums (that means no advertising, pitching services, or looking for partners).

Replace to keep the deal alive?

When you mentioned pulling out $110k, that’s the perfect snapshot of how equity can turn into future deals without selling outright.So, if you were to rinse and repeat, would you still go for another rental thta’s already turnkey, or would you look for something you could add value to?

If I sell the lot quickly, it will be a sweet deal.

Quote from @Edward Barrett: 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.

Incredibly poor business deal.