Without actually going through the process, its hard to figure out where to start and it doesn't always feel very comfortable. 

I found good results searching a little outside my comfort zone and got a good BRRRR deal about an hour away. 

Personally if I was comfortable investing OOS and the returns were both comparable I would look to MI for my next property since you have 2 in NC and only 1 in MI.

I would reach out to your lender and discuss the different options and see what you’re comfortable with.

That being said, what is the purpose of your LLC and would you feel more comfortable having an umbrella insurance policy to cover your liability instead? 

@Antonio Daniels 1-there are no different standards for screening...what you will find is that they will likely not meet your earning requirements (like 3x rent)...so you have to make exceptions...they also have very colorful backgrounds for the most part...after screening hundreds of section 8 tenants, definite patterns will appear...if you have a credit score requirement, odds are they will not meet there either (but there are fantastic voucher tenants out there as well...I've rented to nurses and other professionals with a voucher do to having a disabled child that needs a lot of services)...the one thing to be aware of is not treating them differently because they have voucher...2-The inspection depends on local authority, but the standards are the same...this is a federal program...so Housing Quality Standards (HQS) is the guiding document...how an inspector interprets that is another story...https://www.hud.gov/sites/dfil...3-Usually you will only have recertification annually, or possibly at an income change or a request or complaint...4-100%, it's one of the best sources of long-term steady income out there...I'll take a section 8 tenant over a white collar A-class tenant any day...plus you are helping to house the most vulnerable and underserved population out there.The bad things you hear about section 8 are from folks that do not understand the system and how it works, or want to be slumlords and not take care of their properties...or are ill prepared to deal with people in general.

If you feel comfortable with 6 months that is your decision.

As you speak with potential sellers you will learn and get more comfortable with the process.Step 1 is to get started!

It will depend on what you feel most comfortable with.

If you're in a comfortable situation with a low rental rate, I'd hold tight and save your money for Portland.Are you handy?