Both of those seem more "complicated" than a clean conventional financing offer without the contingency of your current home selling. 

Have those cash reserves ready so when we hit another bump you can clean up on those people that made poor decisions.

how's it going everyone ? I'm 21 years young and looking to learn and grow each day with like minded people who've decided this same thing long before myself. I'm going to be searching for properties in the Chicago la...

I have done some Real Estate Investing, in Green Bay. 

Are there any expenses that a property management company commonly incurs during the rental (eg, cleaning between renters, marketing, etc.) or are these usually all passed on to the owner?

As long as the house is making you money, you're laughing.There's a real estate club REAG (Ozzie Jurock) that is a great place to learn about affordable areas to invest, and, while there, talk to @Kyle Green, a mortgage broker, who can advise you on making your house work for you without uprooting your life.People usually regret selling more than anything. 

Most of the time they will pay, but offer some type of value, whether it be a carpet clean, paint, or cleaning the exterior of the propertyGino

(google search)understand you CANNOT ask extra rent beside the approved amount, and sometimes the voucher may include utilities which means the $1,400 on the voucher may be 250 for utilities and 1,150 for tenant portion + hud.also depending on tenants changing financials and family changes, the % amount paid by hud and tenant may change over time.i would give a call to local office and also find fellow landlords in the area already working with section8 to network with.you want nice,clean, durable but not very base level. section 8 tenants usually have choices so DO NOT BE A SLUMLORD.you are a nice professional provider of quality home solutions for nice tenants!

I have told her that I will take over the entire mortgage with late fees and everything included and she can walk away from the house clean and she agreed.

If I did, they would say that the couple hours I spent last night cleaning out a drainage ditch in the rain was a waste of time when I could have been watching Mob Wives or some other drivel.