Boo to the system's hamstrung dependence on appraisers!!

Go to your state's REIA conference, attend some weekend seminars (but, beware of the $30,000 "systems" that are out there). 

Defi and Cefi is about to swallow the traditional banking system whole and very few people see it coming yet.

Hello All,I am a Masters student in a Systems Engineering program.

I am a Systems Engineering Masters Student and have started the planning phase for my capstone project.

@Eric Merritt If you have systems in place in both markets I would look at which area is likely to give me the best return in my investment. $80,000 will give you a nice down payment, or if you take some money out of your MI property you could find something larger/nicer or a couple properties depending on price point and your goals.

The HVAC duct system on my condo was designed horribly. 

Would you suggest separate bank accounts, I am not sure we need an LLC with this property at least not at first given that it is an ADU and we do not want to put our personal property into the LLC.As we are interested in getting more into real estate investing in the future i am using this property as a learning experience and a way to get all of our systems up and running.

@Antonio Daniels 1-there are no different standards for screening...what you will find is that they will likely not meet your earning requirements (like 3x rent)...so you have to make exceptions...they also have very colorful backgrounds for the most part...after screening hundreds of section 8 tenants, definite patterns will appear...if you have a credit score requirement, odds are they will not meet there either (but there are fantastic voucher tenants out there as well...I've rented to nurses and other professionals with a voucher do to having a disabled child that needs a lot of services)...the one thing to be aware of is not treating them differently because they have voucher...2-The inspection depends on local authority, but the standards are the same...this is a federal program...so Housing Quality Standards (HQS) is the guiding document...how an inspector interprets that is another story...https://www.hud.gov/sites/dfil...3-Usually you will only have recertification annually, or possibly at an income change or a request or complaint...4-100%, it's one of the best sources of long-term steady income out there...I'll take a section 8 tenant over a white collar A-class tenant any day...plus you are helping to house the most vulnerable and underserved population out there.The bad things you hear about section 8 are from folks that do not understand the system and how it works, or want to be slumlords and not take care of their properties...or are ill prepared to deal with people in general.

The system delivers four numbers: within proximity of the unit, in the same zip code of the unit, plus wider area numbers that have no bearing.When the housing authority uses the app, they have a different input matrix, including bedrooms, bathrooms, parking, - apparently nine factors that are used by HUD to estimate the rent.