I own a two long term rental in the Pacific Northwest and one in the Midwest.

I've done over 75 flips in the past 3 years, we manage 300+ doors, and I own 28 long term rentals. 

As long as your applicant is approved through your housing authority to pay what you advertised your unit for and as long as you don’t broker a side deal after the HAP contract is signed for additional rent you are OK to proceed.

That's a long time, but what's the average DOM for similar properties in your market? 

i would imagine it as a long process to obtain the lien certification from department of revenue.  

If you want to avoid the lengthy process of securing permits and navigating ordinances, you can always opt for long-term rental for the first year.

Usually the depreciation is enough to shelter your income so that you pay little to no tax, at least on a new long term rental. 

You need a great agent to sell the place for you and not allow the listing to sit for long periods of time. 

This is a long game that requires persistence.Make the money when you buy.

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