As you progress your bookkeeping business, you'll likely want to learn how to export statements from a variety of property management platforms, as investor books are housed in bank accounts, spreadsheets, and a variety of property management and accounting software!

We have built a very similar business here in Austin.

Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?

Sell your investment property and buy the land for your business. 

The same money could buy 1-2 full properties that would rent for more, depending on the market you choose. 

Leverage / down payment required will depend on if you're a U.S. citizen, Green card holder or if you have another immigration status. 

For those who are running successful Section 8 businesses out-of-state, did you start in just 1 state or if the opportunity made sense would you purchase the property regardless of the state?

How do you approach educating people on the realities of the business? 

I think it depends a lot on area and price point with $7k monthly rents I rarely spent more then $3-4k a year on cap/ex/maint.

Its going to really depend on your location, scope of work, and finishes.