It's throwing good money after bad.

You can make a lot of money, but be warned, a large % of Section 8 tenants are complete savages.

But don't let this guy take advantage of you, you have a business to run after all....you need the money, your family needs the money. 

Even with incoming water at 3 gallons per minute you will never run out.10. 

With the hold periods on BRRRRs nowadays, your margins will get crushed with hard money interest payments/points/fees. 

Don’t fall into the trap of being lured by good-looking cash flow numbers—those properties can become money pits.To wrap this up, my advice to clients is simple: Don’t overlook a solid duplex while chasing the dream of a better triplex or quadplex.Good luck! 

Purchase price: $80,000 Cash invested: $145,000 Turning a 3/2 into a 4/2 duplex for short term rentals.

He is right, guarantee or not, Joe owes you the money back

Also why not just run comps? 

This will cost you a lot of money and time.