These are two completely different investment strategies. 

There are many different midterm rental tenant types. 

I saw a lot of threads that talk about tenants filing for bankruptcy while staying in the property but this is a slightly different situation. 

To preface we budged $57k to renovate the house its 1,200 sqft, the investor had three different GC's come out and walk the property and one came back at $60k, the second at $75k, and the third at $100k.

Or ANY different combination.

This is probably different for multifamily where renting it out is their only option.

the way section 8 works is different in every county across the US and I have been diving into the matter myself for an 8 unit I am considering putting into section 8 in St petersburg Florida.. but from my understanding you would ask whatever rent you are hoping to recieve and the tenant will tell you what their TTP or total tenant payment is and the county is responsible for covering the remainder of the lease as long as it is beneath their FMR fair market rent.

I also look at capital appreciation, tax savings, cash flow and cash flow appreciation.Where you invest, investment support structure for each property, and additional factors important to your individual decisions all make a difference as well. 

Depending on how close to Lackland also will make a difference.

Is this $20k over on a $200k property (10%) or a $400k property (5%), that too makes a difference.