However, it never hurts to contact your insurance company and prepare them for any potential claims.

folks I know that do a lot of section 8  are not that concerned with total income  more concerned with their basic credit and if they have been evicted in the past.

With that said, I'm prepared to run my business like a business and not with a emotion. 

If they say no and you do it anyway they usually won't call the note but if they do, be prepared to have to refinance it again. 

The coins (or credit cards these days) your tenants drop into the slots should more than compensate for their costs.

Fast forward 3 years... we’ve both built our credit, bought our primary residence, have two kids with a third on the way, solid middle class jobs, and some consumer debt.We were gung-ho to get going in 2019 after bonus and tax time to get a rental property finally.

Hi,I am in the process of deciding a tenant whose credit score is 556.

Live in one of the units while learning more and preparing to acquire another property.  

Thats not to say that there aren't people out there who have success in flipping in the sub-$150k market, just be prepared for the potential for longer marketing times and buyers using grants and other programs that complicate and slowdown the process.

I have excellent credit, steady income and plenty of cash reserves.