I just bought a lovely 8 unit last April that had been horribly neglected but have turned it around and done some cosmetic renovations and increased rents.

I've heard of people doing this, but you need to be rehabbing it enough to make it higher value so ideally you need to be purchasing something that needs some rehab so that you can increase the equity because otherwise you're not gonna have enough equity to pull out

This is where your focus should be, not buying section 8 rentals or focusing solely on increasing your portfolio by 2x, 3x etc.

By making yourself an asset, you’ll increase the chances of someone taking you under their wing.Use BiggerPockets to connect locally.

The increased risk is generated by the fact that the owners are relying on the validity of the tenancy in common Agreement for their usage rights, and it is possible to imagine legal circumstances under which this validity might be undermined.- If the subdivider or someone with relationship to subdivider sells, a public report must be done.

I've heard horror stories that it's usually impossible due to the "burden placed on the municipality" but could really never understand what that burden was... most people living in those units wouldn't be using the school systems so aside from maybe an increased volume in emergency medical situations I can not understand that statement? 

This puts the current market rents of $885–$925 per unit well within the affordable range, with room for modest increases post-renovation.I’ve also reviewed competing properties in the area; apartments seem to be listed between 975 -1000, and houses are listed between 1300-1900.

If land values are increasing significantly, you can back-end load the seller financing for a percentage of the profit when you sell.To add to prior comment, how many septic tanks do you have?

We decided to do a full rehab to get nearly double the rent ($2900)and increase the ARV to $260k.  

My terms are identical to yours as far as the 1-year lease with 3 options to renew (for them), 3% yearly rent increase, etc.