The idea of both of those regs is that the rent must be affordable to the tenants budget and Section 8 will not allow their tenants to get into a situation where their finances are strapped by over paying rent.

It's time to get creative, lace up the boot straps and get out there and get the money you need.

This also depends on what you can buy it for.If a property is struggling and needs rehab and is a 60 unit say at 50% occupancy with rents at 460 a month.Then if you buy at such a low price you can reduce the rents below market to fill up fast and stabilize.So reduced rents could be 360 a month.You have bought at such a low cost that now you can undercut the other landlords that are strapped with heavy debt service and make a huge profit.You aren't charging top market rents so you have much less eviction and turnover costs.So as we all know there are general guidelines but every property is on a case by case basis.Every listing I take a learn a lot from each seller.Not really about the transaction side but how each of them 10,20,30 years in the business have run their properties and why.It's pretty interesting stuff.

Originally posted by Mat Lewczenko:Jon, does this feeling of giving have anything to do with your last name???

Making sure you don't get cash-strapped is the major problem, not necessarily finding someone to take it off your hands when you are finished.

The neighbors told me that a remediation outfit in haz-mat suits spent 3 days pulling stuff out of this place.

Is that a different-colored tile in front of the toilet, or just a really square thin mat?

The people that have to self manage and not WANT to self manage over paid for the property.There are many of those out there.Joe if you BUY RIGHT and do proper planning and due diligence on the front end you will NOT be in the situation of many of the type of owners mentioned.That is where a trained broker and investor can help you buy right and look for hidden costs and land mines that will strap you later on.

I missed most of it as I was only able to listen on the way to picking up my white hood and sheet from the laundry mat.

So yes in a way it does still mean that someone is cashed strapped.