Section 8 can be a great way to fill a unit rather quickly as well as generate income! 

Debt is not taxable income, so there should be no taxes due.I'm no lender, but you will need an asset-based loan like DSCR (debt service coverage ratio). 

Here are some common financing options:Traditional Mortgage: Obtain financing from banks with a down payment, paying off over time with interest.Hard Money Loans: Short-term loans with higher interest rates, often from private investors, suitable for quick acquisitions or credit-challenged investors.Private Money Lenders: Individuals or groups offering direct loans, with terms negotiated privately.Seller Financing: Buyers make payments directly to sellers over an agreed period, with terms negotiated between parties.Home Equity Line of Credit (HELOC): Borrow against existing property equity with a revolving credit line, typically offering flexibility.Real Estate Crowdfunding: Pool funds with other investors via online platforms for various real estate projects, offering diverse investment opportunities.1031 Exchange: Defer capital gains taxes by reinvesting sale proceeds into similar properties within a specific timeframe, useful for tax optimization.REITs (Real Estate Investment Trusts): Invest indirectly in real estate through publicly traded companies, offering liquidity and diversification.Joint Ventures/Partnerships: Collaborate with other investors to share resources and risks, leveraging each other's strengths for larger projects.Subject To Financing: Buy a property subject to the existing mortgage that's in place on the property (doesn't get paid off when the property sells).Assumable Mortgage: Buy a property and assume the mortgage that the seller already has in place.Lease Option: Rent a property with the option to buy it prior to a later date.Debt Service Credit Ratio (DSCR): A loan approved based on the income potential of the propertyThese options cater to different investor needs, preferences, and financial situations, providing flexibility in real estate investment strategies.Thanks,

Not great, but the main point I was trying to illustrate is many think they need to buy property earning a 0% CoC return to "get their foot in the door" to real estate.  

The lower the cap rate, the more value buyers are placing on a given income stream. 

On the other hand, your rent payment will be part of the investment property income, so the numbers may work.Example:A fourplex costs $500,000.

In fact, FL does not even have state income tax.

In my case - I am broker in South Florida with a large list of investors, who want to earn more than $1000/m Cashflow per every $200k investment stability with a very low risk.

Then of course you will get to use you other income to qualify you as well.

So, perhaps his income should look larger.