Anyone remember the podcast from a couple of years ago where the guest talked about how he goes about raising rents when he inherits tenants who are paying well below market valueHe talked about making up a folder of his expenses as well rental comps and meeting with the tenants and having a two-way conversation about where to set the rent. 

Section 8 may feel like guaranteed money, but they can stop paying or pull back funds at any time for a variety of reasons.  

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Would I be able to knock down and build a new home and once I sale, I use proceeds to pay off the first bank? 

When it gets fun is when they don’t pay you back - then the lawsuits start flying

Don't think just because you're putting in nicer countertops and cabinets that renters or buyers will be willing to pay for that.  

Interesting book recommendation: Whack-A-Mole: The Price We Pay for Expecting Perfection by David Marx.

Paying 2.4% for total closing costs (which include title search, title insurance, all attorney doc prep and recording fees) seems very reasonable given the relatively low $ purchase price.

If you find one that does, expect to pay at least 15-20% management fees for handling all the extra headaches.

True value is as much as someone is willing to pay, correct?