Negotiations focused on securing the property at a favorable price, enabling us to achieve a profitable margin in a highly competitive market without requiring additional renovations.

You would have ongoing filing requirements with the State and would need to keep business records and documentation.

Also start talking to lenders now to understand their requirements 

However, if you bought it and managed it as a market rate apartment, your experience would be very different.My point is, I can control how fast a unit turns simply by adjusting my asking rents.  

Think about it, why do people do Airbnb........make more money, however they have higher vacancy rates, and more management required.  

But, today, most judges are requiring a GAL anyway.

Ultimately, I do think S8 requires scale and lots of efficiencies but has its benefits. 

Figure out market rents, deduct expenses to determine NOI, deduct cashflow you want, plug remainder into mortgage calc at current interest rate, then add lender's required down payment.That is how much you offer!

I make sure I screen each potential tenant thoroughly (background and credit checks) and require references.

LIHTC properties can have requirements that stay with the property for up to 15 years.