The previous owners filled the apartment significantly below market rate, and we're actually missing out on about $5-7k/year of income due to this.

For the second card, also use it every month and do not exceed 30% credit utilization (e.g. if you have a $10,000 limit keep your balance below $3,000).One year may not be enough time. 

The proposed worth is 8.9 million with a 50k a month cash flow, but the asking price is 6.4 well below market value.

I had my agent run CMA in the zip codes I would like to invest in and for the past 6 months, the sold price were about 15-20k below the final listing price (listing price were between $180k-200k) due to some of the properties are either paid in full and kids just selling off what they got from their parents or military members who are just trying to break even since they got orders and don't want to deal with renting it out or losing money. 

Below are the details:http://thesomersteam.com/page/kensington-Courts-A-...It may be some time before this gets finished but it would really change the dynamic of the area. 

Here is where I am at: Found motivated seller and agreed on a price but haven't signed a contract yet as I'm not sure if the sample contract I have below is valid to use in MD.

Especially because the price may be lower than market for a reason you won't know until you have someone in there.

Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meetSet up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alertsRead Beginner’s Guide: http://www.biggerpockets.com/real-estate-investingCheck out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box.

Below is my list of positives and negatives for section 8 rentals. 

I've linked the report below.