My question there though is: can the lien holders come after you now that you are the new owner (because you have the deed)?

@Tadd Hale,First thought, paying too much.The goal of the note holder is to recover as much of the loan balance and costs incurred while being associated with the property.

(Though truthfully the 2nd holder probably would not want to foreclose, and would likely negotiate an extension, but who knows?)

I'm able see every reciept and every item on each reciept just by using my regular Chase Visa card.Why are you considering getting a HD card as opposed to using a regular Visa CC (Especially a rewards card).

apparently the gov't is allowing 2 people to a room including the voucher holder so a 2bd will hold up to 4 people.

While I haven't accepted section 8 tenants at this point, voucher holders had no trouble finding me from my posts on craigslist, postlets, zillow, and the like.If you are new to Section 8, you need to familiarize yourself with the program, and particularly your local housing authority.Some useful past threads (many, many more by plugging "section 8" into the search box at the top of the page):http://www.biggerpockets.com/renewsblog/2012/7/27/section-8-rentals-advantages/http://www.biggerpockets.com/renewsblog/2012/8/10/disadvantages-section-8-rentals/http://www.biggerpockets.com/forums/52/topics/57420-section-8http://www.biggerpockets.com/forums/52/topics/82609-section-8-viabilityhttp://www.biggerpockets.com/forums/52/topics/89149-to-section-8-or-not-to-section-8

Longer term notes will take a bigger hit on the discount, great for those "pros" but here I'm speaking as to the note originator/holder's best interests, there are two sides to this matter.

I'm a buy and holder myself with some property in Pittsburgh.

Front-end JV partners can either go on title or take 1st lien holder position (most of our foreign JVs take lien holder), they put up 100% of funds to purchase & repair the property to rent-ready retail (all of which is documented with video), we do a line item bid for all repairs and work from progress payments.

Shelby Reed - be aware that the sequester has affected S8, with the possibility that voucher amounts may be reduced for current holders.