some good related reading:http://www.biggerpockets.com/forums/52/topics/73627-setting-rent-price-for-section-8http://www.biggerpockets.com/forums/52/topics/62388-section-8-basicsThe adjustment to market rent is what would concern me, since the Housing Authority will make these adjustments periodically, and that could lead to a reduction in your expected rents.

Ken Latchers - Thanks for the feedback, I really appreciate it- I'm pretty sure I addressed or have thought about your concerns at this point-1) I found a cost effective HSA/high deductible plan which should fit well, 2) Agreed- the lack of recurring, reliable funds is a trade off 3) I will have $50k in cash reserves, plus already have a RE LOC at $50k, credit card max of $30k, and 3 F&C properties just in case, 4) I have already secured the funding to continue growing over the next 18 months at the current rate of 2 properties per quarter.

My only concern is that the house may be under foreclosure.

Moving used mobile homes is not for beginners in my book.

Your ex is probably concerned with liability resulting from the rental.you can't force your ex to sell and contribute money at closing to make up the difference between sales price and what is owed.

Agin, I would be looking for something more around a 15% cap based on current income, so if you can get it tehre, you likely have a good deal.Keep in mind to check very carefully on the soundness of the foundation/structure. being so old would cause me some concerns.

What would be your questions or concerns?

It's not, in any way.You are not a tenant, you're family and you can live there without any concerns at all even if your father does not.

(Not saying he is like that, but you always have to plan for the worst and hope for the best)That is basic concepts and concerns I can think of for now.

., so I am not too concerned about a second wave of foreclosures.