If an asset is throwing off a certain yield that is not commiserate with it's risk, then investors will then begin paying more for that asset, thus decreasing it's yield....or start paying less for the asset which would increase it's yield, until it was at the proper risk/return rate to produce the yield that is truly reflective of it's risk.The problem is novice real estate investors get the risk/reward correlation backwards.

Probably will never be utilities there like electric or water. 

Quote from @Deandre Brown: When analyzing deals, a few additional factors I like to consider are whether the electric and gas utilities are charged per unit or as a single expense.

3) It's been 5+ years since we've seen a S8 tenant lose their voucher for property damages, not paying their portion of the rent or utilities, or other lease violations (letting others move in with them).It's our opinion that #2 & #3 above are caused by overworked caseworkers not having the time to process the extra required paperwork, so they take the path of least resistance.4) S8 needs someone at the federal level to put more of the program online and streamline the process!

What I am more concerned about is in terms of real estate what would be the best way to utilize the 200k - I want to put that money to work.

They require tax returns, voter registration, car registration, driver license, and utility bills in the app to prove it's your primary.

Value add ( do you want to do reno/raise rents), or stabilized (income producing, lower maintenance). 

Be sure to take high-quality photos, and if possible, request utility records that confirm separate billing for four units.

Contract is very clearly and states that if seller cannot produce a clean title than EM is to be returned to the buyer.

How are the utilities billed?