I will say having that passive income is tempting but it would come at the cost of doing a full blown condo conversion to free up the capital.Anyways, am I thinking about this right? 

Sec.8 Tenants can't  - they have to wait for the housing authority to be approved.BTW, I never discriminate against a source of income.

It makes the same or more amount of income per unit without the risk or cash outlay at the beginning.

A property bought for $100k that has $10k of "Net Operating Income (NOI)" with ZERO Mortgage has a Cash Flow of $10k annually.The SAME Property, if purchased with a Mortgage that also has an annual payment of $10k means that the cash flow is ZERO for the exact same property.How can you say that Cash Flow is a characteristic of the Property?

If you have to, interview a couple until you find one that you "click" with. 2) Let that agent connect you with their network of investor-friendly lenders. 3) Meet with these lenders, have them talk over your finances with you and what loan products you would qualify for at the moment based on your income and assets. 4) Let the outcome of that conversation (#3) dictate your strategy moving forward and take your findings back to the realtor so you can craft a plan. 

I can at least take a look and see if there is a creative way to play this.Regardless, I'd start renting the property immediately (assuming it's rentable), and starting bring in some income until the foreclosure.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.

.' - Investing in multifamily properties can be passive with property management services or investing in syndications.Don't let excuses hinder your potential for financial growth and passive income streams. 📈 #RealEstateInvesting #MultifamilyInvesting #FinancialFreedom"

My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth.

My goal from day 1 has always been passive income as much as possible.