The challenge was balancing the relationship between landlord/tenant and a personal/friendly relationship.

Personally I would pass but if you go forward I would do a lot of research on the group you are renting to and get a very large security deposit to cover damage. 

What RichDad does not tell you is that it takes a driven personality to build a portfolio and if you have that type of personality you will not enjoy a retired state.

The voucher is the most that Sec8 will pay for that person’s rent regardless of where they rent.  2) The second part of the Sec8 equation is the market rates for specific neighborhood’s and property types (SFR vs apartment, # bedrooms, # baths, utilities included vs paid by tenant, etc).

Personally, I wouldn't offer SubTo or a Wrap, For reasons I've written about fairly extensively. https://www.biggerpockets.com/forums/70/topics/1227199-the-m...However, I would sell on "Lease Option" and that may work for you.

Find someone where there is a personal connection and at some point your relationship now or later can benefit the mentor.

I have personally owned over 200 cash flow rentals and sold them as it simply was not worth it..

We make people take photos of themselves holding their ID and then I also meet them in person for the showing - at least for my units on the NW side of Chicago.I've never heard of these testers, but I am not surprised. 

Quote from @Sharon Bancroft: @Cameron MarmonI had this same situation and my tax accountant filed the change for me ( one time filling) and we now file it on our personal as a disregarded entity.

It's stronger in court if they do it, nothing personal.