Hi I live in the area and have a 3 family in the Ironbound section of newark under contract.

All three units are occupied with section 8 tenants and building is in good condition.Asking price is in mid 200's.

A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

However that is likely true only if you chose to go section 8. 

Turbo Tax or any crank out your tax program isn't considering future ramifications of your current tax elections, it won't address inventory accounting methods such as LIFO or FIFO (look it up) where economic conditions may be applicable to your operations, Section 179 isn't always the best approach.The only "issue" I see with the comment by @Ted Lanzaro is that his statement wasn't qualified fully, saying less than $150,000, that should have been mentioned with an income of being greater than say %45,000 because if you don't have any real income you sure aren't going to save thousands.

However, I'm considering buying a "newer" SUV this year due to section 179 changes next year and considering financing it. 

Be sure to read through the Education section above it is loaded with great information. 

They filed to get section 8 housing assistance and my grandmother signed for it.

.- I would add that there may be some level of comfort with rent subsidies, section 8 etc, since it is covered by the government, so even in a recession, you will be guaranteed the rent, which is kind of amazing.

This consists of anything from section 8 rentals to building new builds.