@Dee Mandrekar highly doubtful there's such a big difference between market rent and S8 rent.First off, the GROSS S8 amount includes specific amounts for all utilities - electric, gas, water, trash, etc.We do NOT recommend including utilities in the rent because S8 only pays a certain amount and the owner is then exposed to tenant abuse of utilities. 

Here are a few thoughts on your perspective:Long-Term Holding Strategy: Your idea of holding onto a property for rental income instead of focusing solely on appreciation is a valid strategy, especially in a market like Japan's.

Thanks for the mention @Nathan Gesner@Jodi-Ann Birch we don't do business up in Flint, but we have encountered Gebrael Management a few times as they've tried to do business in Metro Detroit.They seem to have good processes, but please validate they will meet your expectations.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

**Save money**: With reduced expenses (gas, power, tolls, etc.), we estimate that we will be about to increase our savings from about $600 per month to about $2,000 per month.4.

Hey @Laura Sawicki, I second @John Underwood's comment about getting the actual Schedule E from the owners to validate all revenue that was reported to the IRS.No way I would rely on just a report they provided.

Ensure you have a detailed renovation plan and consider obtaining quotes from multiple contractors to validate this estimate.Rental Estimates Your projected rents of $2,000 and $2,600 seem promising.

Moving the lockbox to a less visible place like gas pipes, garage door, etc. 

Its always been illegal from the state regulators view it violates the Real estate sales laws of brokering RE with no license.. the definition of brokering RE is to bring two parties together for compensation exactly what wholesalers do.. but without a valid license or listing agreement. 

The biggest hurdle, is validating that you will not live in it.

And it's totally valid for you to feel that way!!