And if so, what are the benefits of section 8 if the only guarantee is the direct deposit and yearly inspection?

So there is a 20 unit building I'm attempting to buy, I made an offer of 1,500,000, 60 days inspection period and cash close, need to see 3 years of bank statements as proof of income. 

**Inspections and Compliance:**You may need to conduct inspections to ensure the property meets current building codes.

If you buy direct from the seller and you have never done it, who is going to help you with home inspections and title and survey and negotiations?

The reality is that the FMR can change, and passing inspections can impact your rental timeline.

I document heavily with photos before they occupy, I take photos during every walk-through inspection, and I document what condition they leave it in at move-out. 

The repairs required by Section 8 after the initial inspection were pretty minimal, but I've heard that there are grants and certain lending programs that were available for Section 8 landlords (such as the Community Investment Program).

As an aside, a contractor told me that a property can pass an inspection but once someone is living there and putting daily stress on the house, things can start to malfunction.

I've never bought the property from a long distance, I always go and look/inspect/feel.

I don't see how they get away with it but maybe some buyer's agents are not helping their buyers with due diligence and inspections??