But if there is ever a question about legal ownership and contracts drawn up on Real Property dose not have an attorney envolved or a Title company which is governed by the State department of Insurance. 

You don't say whether you already have a blanket policy you can just add to with this property, but if you don't you may be surprised at your insurance cost.  1990s product is not too old, so that will help, but if you are basing your assumptions off the seller's numbers and the seller has other properties, chances are that this is just the cost represented by this property as part of a larger insurance program.  

@Alec Saenz,Check the local government tax assesor's website to see if you can find out more information about the property, maybe even the owner's name.If you can get the owner information, you can take the approach of sending a handwritten letter asking the owner if he/she is willing to sell the house. 

I believe it's called the "Tenant Habitability Program" or something similar.  

Network, social clubs, chamber of commerce, newspaper advertising , craiglist, car signs, Youtube, investor clubs, school board meetings, church groups, Personal lawyer, mailings, foreclosure lists, neighborhood door knocking, drive bys, grocery store bulletin boards, Trulia, Zillow, realtors, expired listings, RealtorTrac, FSBO, Garage sales, Open houses, Family reunions, Fire truck chaser, Funeral chaser, Floods, Classified ads, Apartment rental listings in newspaper, Current Tenants, Hud home auctions and listings, REO's, Real Estate auctions, Auctioneers, Appraisers, Relationships with Building code inspectors and others in office, Propertry Tax sales, Sheriff auction sales, Soliciting mailings to Probate lawyers, Real Estate seller lead providers, GURUS that have lead programs, Start an RE investment club locally, Hold seminars local on how to buy a home or sell your home. and on and on and on.

This way I don't have to chase anyone for money every month as the checks will come directly from the government annd I can focus on keeping them section 8 approved.  

I called my accountant right away when I found this out and he stated it had to be done that way because of new program or something the irs is using, taxes would not allocate properly or something.

Debbie, the laws governing loaning to owner occupants are considerably different than the laws governing commercial loans. 

You will have less luck getting a response from the government than you would a bank.

We can always use more investors to help provide the housing that will be needed to double our populating over the next 25 years.We offer a turn-key program focusing on Tax Sales properties.