Ideally, it's best to have reserves before acquiring a property as it shows financial responsibility to potential lenders.

Its the owner's responsibility to protect their own property rights.

Thanks for the response. 

Sorry for the late reply @Linda Weygant, I missed the alert and didn't think I got any replies...Great response, and that's pretty much how I set things up w/my CPA.  

What tips would you have for someone starting out?

Calvin  Adam is a sales rep for BP this is his job to promote BP services

All he has to do is put his money up, and sit back until it's time to sell. 

So he wants to sell all of his properties.

So from my understanding from your responses, it is possible to achieve market rates on properties without having to make necessary improvements and additions since units just need to meet minimum quality standard for section 8.

Thanks for the response and I have just one more question for you, How much is the regular rate?