I'm wondering, is this not a major problem for landlords if no further applicants are getting approved for vouchers?

I was wondering if anyone knows which areas/cities are best to buy a house.

That would be wonderful, Jonathan, thank you. 

I have called a few housing authorities and learned the application is closed because they have such a need for houses for these Section 8 tenants, and I was wondering if it's the same in Cahokia Heights.What was the rent for a 3 bedroom sec. 8 tenant in that county?

Wondering if the vacancy rate is higher in the area as it seems more advantageous to just buy a house and pay mortgages rather than renting.

I am wondering if taking such a risk would stretch me really thin or is there a safer approach to take.

Using the deferred tax as part of your reinvestment will do wonders for what you are able to buy.You get access to greater reinvestment potential, as well as not having to recapture any depreciation.If you do need access to some cash, you can either take some out as part of the closing (only the cash you take will be taxed.

Have an opportunity to assume a VA loan and wondering if I HAVE to do it in my personal name, or if my entity can assume the loan.

I did not mean it to imply that I did not want to work or take the easy road but if the educators I look at are doing other things than what they teach, it has be wondering if going down that road is a waste of time since they are doing things other than what they say is all you need to do. 

That neighborhood has not seen much of an improvement over the last 10 years..If an agent is selling a property and calls it a C neighborhood in the back of my head I always wonder if they are looking at it through rose-colored glasses.