A few things to keep in mind:Section 8 requires the property to pass an inspection based on HUD’s Housing Quality Standards (basically making sure it’s safe and well-maintained).The rent you charge has to align with Fair Market Rents (FMRs) in your area, so it’s good to check what similar properties are renting for.You’ll still be responsible for maintaining the property, but the upside is that a chunk of the rent is guaranteed by the government, which can provide steady income.Check with the local housing authority about any specifics for your area—every jurisdiction does things a little differently.This could be a great niche if you can find a good deal on the land and make sure your expenses (like maintenance, insurance, and occasional vacancies) are covered by the rental income.

You will have a heart attack when you get your first inspection report. 

It might save you money on labor and give you more control over projects, but it also means taking on more responsibility for permits, inspections, and subcontractors.

In order to negotiate the deal, I used the inspection report to help me get a better price.

I also hope they inspect at least once a year while occupied.

I'd thought about offering 145k and allowing my agent to take a 3% comission ($4,200), use the $800 on any inspection/closing costs, and the seller walks away with 140k.

If you did not do independent appraisal and inspection, you experience what 170+ investors experienced.

They also don't know what happens after inspection, well and septic test etc and are often extremely difficult to deal with.

(Housing Choice Voucher Program, HCVP)Guys it's 180 degrees...I had TWO properties go from voucher to inspection to HAP contract/rental to direct deposit setup within 10 business days each.

My monthly fees are as follows (handyman inspection $125, Cleaning $270 a turn (I collect this from guest), TAT&GET (collected from guest) Property Taxes, Insurance (I highly recommend you price this out, with hazard I pay $1,200 a year), internet/cable $100, Electricity $300 a month, AOAO dues $900 (association fees are increasing minimum 5% a year).