Your property will need to apply to and be inspected by the local housing authority if you are not already in the program which can add time off the market that you wouldn't have with a regular tenant. 

@Phillip Syrios I cant say for your authority but here that would not fly. 

Thanks, I am an authorized notary signer associated with Prolink Notary Signing services, offering real time service for all over states.

A lease doesn't give you authority to rehab it or obtain building permits or obtain materials which may be subject to lien wavers which a supplier will want nor to hire labor or contractors which would have rights to place workmen's liens.

I would imagine this phenomena would amplify in areas whose economy relies strongly on agriculture.In any case, my concern about using Section-8 as a hedge during a recession is how much funding the Housing Authorities issuing the vouchers have and the likelihood of cuts to those budgets.

I purchased a 4-unit building gut rehab in Chicago, with a 203k loan.The contract had an “as is” addendum.My contractor applied for building permits with the City of Chicago building department.They were advised that the property has multiple injunctions against it, and was, in fact, in demolition court.This obstructed receipt of my permits, rehabbing my property, moving into it and receiving rents, as was my plan.Neither the seller, nor his real estate agent disclosed this information to me.If they had, I would not have purchased the building.The signed contract states under “General Provisions” Section “H” Code Violations:“Seller warrants that no notice from any city, village, or other governmental authority of a dwelling code violation that currently exists on the Property has been issued and received by Seller or Seller’s agent (“Code Violation Notice”) If a Code Violation Notice is received after the Acceptance Date an or before Closing, Seller shall promptly notify Buyer of the Notice.The Seller and his Agent both knew about these violations as the list of violations clearly correlates with his ownership of the building, but did not disclose this information to me.The “as is” addendum does not exempt the seller or his agent from notifying me of this material fact.This withholding of vital information violates the terms of our contract.Had I known this, I would not have purchased this building.The seller and his agent were both aware of this.Are there any legal remedies for me? 

My finance guy pre-authorized $600 for the appraisal, I felt that was on the high end.

Plus, thinking through Demand, we're beginning to see a lot of retailers (like the Colorado based Sports Authority) default - PacSun, American Apparel, Aeropostale... what this says about the larger economy, I don't know. 

I live in Northern CA with my husband, we've paid off our mortgage, and we recently saved up a decent down payment for another property.I work for the State government by day, and am an author by night.

So if I engage in a lease option and the owner doesn't pay his taxes or even his mortgage do I the lessee have any protection on my option or can the lender just foreclose or the tax authority put a lien on the property.