.- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

@Heather McNicol when you say the program is expensive, can I ask how much the program costs?

Personally I like the Section 8 program when the property is located in a super poor area with a ton of blight and crime.

JamesI work with the loan programs through wholesale lenders so you wouldn't be able to go direct unless they have a retail side.

Some programs are 100% of FMR, some 105% or greater (like the Walker Settlement Voucher in Dallas Housing Authority), some less.

However, I saw enough that I believe that the information available is so imperfect and subject to interpretation that large losses would be an inevitable part of the program, as well as large gains.  

Look into FHA 203(k) loans for repairs and down payment assistance programs in your area.

By the way, I am not getting any commission for my opinion, or I am affiliated or anything.

not sure how sec 8 works exactly in cleveland but in areas I owned sec 8 leases could only be written for a year.. also its only guaranteed if the home pass's inspection and the tenant stays on the program etc etc.. if you have a GOOD sec 8 tenant then yes its very predictable.

I am affiliation-free, you won't find many on here like that so I can actually write that.