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.

The homeowner collects a NET/NET 5% yield with 1% increases each year in long-term lease by a BBB+ credit rated tenant (similar to Morgan Stanley credit).

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

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

Looking for a house we could house hack, had an incredibly low interest rate on mortgage and house has increased in value about 42%, an estimated 180k in equity.

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.

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.

Historically, the average days on market (DOM) for rental properties only increases by about 6 days during November and December.

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 decision increased our budget from $15K to $45K, but it turned out to be a wise investment.