Hi everyone.I am fairly new to the forum.

Now if I am able to reduce the expenses to say 50%, by replacing resident management and staff with external property management, the property will cash flow nicely.However here lies the rub: in order to maintain the Section 8 subsidies there is apparently a budget which gets submitted to the Dept. of Housing and Urban Development (HUD), which accounts for all these expenses in their calculation of the Section 8 subsidies.

That is how you will learn to identify a "good deal" for you fairly quickly.

I'm in a fairly pricey area too.

Disclaimer: I'm not a data scientist and these calculations are only representative of my own opinions, take them with a fair amount of salt. 

Here's the link:https://www.biggerpockets.com/renewsblog/biggerpockets-podcast-269-how-the-new-tax-code-affects-your-real-estate-investments-with-amanda-han-and-brandon-hall/Luke Chung, back to your questions. 20% is a fairly standard amount to be reallocated to 5, and 15 year property and accelerated.

@Megan Thomson Renters insurance is fairly cheap.

This plus the fact that the building is in a rather poor state leads me to believe that the revenue from the HOA fees and coined operated laundry machines may be going in someone's pocket rather than in maintaining the building.

It is a fair amount of dough to get on his program form $10 to $25K depending on what level you enter at but his promise is to mentor me until I reach $250K in profits.

Basically we've put our buildings for sale at prices which, while still fair to a buyer, would financially trump keeping the properties (even if management were free!)