Excluding the periods of “tulip bulb” irrational exuberance, a property must produce enough of a risk adjusted return to satisfy both the ROI demands of the “limited partners”, and the income/time requirements of the sponsor.  

Since the last time I posted here, I've sent more than a million pieces of mail to more than 90 different markets across the U.S. and my perspective has changed a bit.I now use a series of 6 letters in most cases with most lists (excluding time sensitive lists), and yes, I write all the copy myself.

Any reference herein to time periods of less than six days shall in the computation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day.

Excluding, on the phone, sleeping, dinner, church, or with a client.

Any reference herein to time periods of less than six days shall in the computation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m. of the next business day.

This excludes any commercial RE owned for my businesses, which have 0 leverage. 

For existing properties, you must make substantial improvements (equal to the property’s value, excluding land) within 30 months.Ensure the duplex qualifies as an OZ investment and complies with QOF rules.

I'll add on to what the other Ben said and mention that there are exceptions based on the # of days that you rent out your home to where the income/expenses are excludable (being lesser of 14 days or 10% of total usage if under 140 personal use days).

The program is designed to assist low-income families, and these benchmarks might exclude a lot of qualified people.That said, the requirement for stable rental and work history is reasonable, but you might consider relaxing the credit score or income requirements since Section 8 guarantees a portion of the rent.

This criteria happens to pretty much exclude all S8 applicants.