I also managed to creatively acquire two apartment buildings with $0 down about 4 months ago, one of which currently has a water main Leak under the slab and two of the residents have been without water for over a week, but that's another story for another time... 

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

There are online platforms like Rentable.com that will handle opening the correct accounts / all compliance tasks related to managing deposits 

Unit was rented by some one who was the manager for a about a year and then gave over managing to me.

Are there property managers who specialize in managing housing for section 8 tenants?

we use madison management out of reno nv

I manage hundreds of rentals and most of them are caulked every 5 - 10 years.

Will you hire a property manager?

Your property management company can help once you own the property but up until then you need someone good on your side!!! 

I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator!