Off MLS they probably could have gotten a survey, title insurance, and some HOA transfer fees when purchasing, so better deals off MLS, and with no restrictions for resale.   

Home prices / room rental rates ratios look good for a college town when applying the FHA Kiddie Condo Loan product with a house-hack scenario.

Interest income from lending is taxed at your ordinary income rate.

It would take 1.5 years to recoup your 10K at that rate.

If you did find a lender you should expect a 13-15% rate, and honestly that's probably not high enough.

Occupancy is low, tons of bad ratings, listings not very impressive.

Google ratings and scheduling a consultation is always best and choose an attorney that way . preferably in the area that the properties are located in . 

Despite mortgage rates being double what they were two years ago, the overall borrowing environment remains favorable for state and local entities.Key initiatives driving this surge include efforts by entities like the Michigan State Housing Development Authority, which recently launched a $425 million bond sale aimed at providing affordable mortgages to over 2,700 families.

What is the rate of inflation now?  

I do a lot in Detroit.The quick good/bad:- S8 tenants tend to be rougher on the property (but not always)- Paperwork/inspections/etc. can be burdensome and tough to navigate (especially initially)- People often think FMR rates are guarantee rental rates but that's not the case- Usually the rent isn't 100% subsidized and a lot of people don't realize this- S8 tenants tend to stay a lot longer than cash tenantsOverall, I'm neutral on the program.