I've never met someone that didn't have these standards.

Keep your standard of living inflation in check, learn about personal finance and real estate, build your reserves, and make connections with some people who can help you learn and maybe collaborate on deals with.

As a real estate investor the judge may hold you to higher standards, so this could vary depending if you run a large investment firm or if you’re trying to get a rental or two.There is also the theory of “unjust enrichment.”

I have an opportunity to purchase a property that used to house 88 beds in an assisted living facility.

Your standard home insurance and the AirBNB insurance should help protect you from most things.

The first thoughts that jumped into my head were STNL (or any long-term NNN leases, even if multi-tenant) and self-storage facilities.

Cleaned up laundry facilities in the basement.

@Antonio Daniels 1-there are no different standards for screening...what you will find is that they will likely not meet your earning requirements (like 3x rent)...so you have to make exceptions...they also have very colorful backgrounds for the most part...after screening hundreds of section 8 tenants, definite patterns will appear...if you have a credit score requirement, odds are they will not meet there either (but there are fantastic voucher tenants out there as well...I've rented to nurses and other professionals with a voucher do to having a disabled child that needs a lot of services)...the one thing to be aware of is not treating them differently because they have voucher...2-The inspection depends on local authority, but the standards are the same...this is a federal program...so Housing Quality Standards (HQS) is the guiding document...how an inspector interprets that is another story...https://www.hud.gov/sites/dfil...3-Usually you will only have recertification annually, or possibly at an income change or a request or complaint...4-100%, it's one of the best sources of long-term steady income out there...I'll take a section 8 tenant over a white collar A-class tenant any day...plus you are helping to house the most vulnerable and underserved population out there.The bad things you hear about section 8 are from folks that do not understand the system and how it works, or want to be slumlords and not take care of their properties...or are ill prepared to deal with people in general.

Lessons learned is that you have to pull the trigger when you find something that meets your standards.

Lessons learned is that you have to pull the trigger when you find something that meets your standards.