High credit scores and low DTI are often required…and these take much longer than I first thought…Navy might take 45 days to get through the gauntlet.  

Looking at this mathematically, if you assume a 50% non-renewal rate (industry standard) and use the low end of the range of $5,000 per non-renewal, there is a loss of $50,000 per year on a 20 unit property.

It was high rent, low entry point area but within 6 months I dealt with an eviction and electrical issues.

Keeps costs low and guests satisfied!

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

Also, for low value properties, most lenders wont take the risk. 

The program was created to give low-income tenants an alternative to living in federal project housing.S8 sets their rental rates to the LOW-END of market averages, if not slightly below.

Low probability but high risk.

A property could be cheap but be located in a low performing market.

Thank you for taking the time to do a deep dive. 2% home appreciation was also a fairly low estimate, it looks like in that area it is actually around 5-6%.