Before I have just been reading and taking notes on what others have said but now I have a kind of unique problem myself.I have been saving money like crazy to get into buying real estate and renting it out for passive income and so I have saved up about $20k and I am ready to put it down on a rental property investment...

I accomplish this by first renting out the house from homeowners, and with their permission, turn the house into a shared housing state and sublease the spots out individually. 

First mistake, provided a free incentive to please and secure your tenant, you should always stick to the rules, you must charge accordingly, always enforce pro-rated terms, if/as stated in your contract ease terms.I always like to say that an exception, quickly extends into the rule (As a general rule of thing, we absolutely do not bend on any rule and enforce every element (within reason))Another view is that if you are the individual, the owner, the landlord, the point of communication, it is more difficult to distance yourself from the emotional element, sometimes the emotional attachment to the asset, will shut down your business side of thinking for a brief weak moment, you must restrain from that.

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Individual doors can be replicated/replaced if missing by a good cabinet shop.Contact the city engineer about the flooding issue.  

These companies have to carry General Liability and Workers Comps on possibly a lot of individuals, so I would guess their markup is at least 20 to 25% over cost.  

Most who join, do so without benefit of any exoerience, let alone brokers license as you have achieved.Now, look for opportunities to help others, give your unique perspective and let others know the type of deals that interest you in addition to your shirt and long term objective in other threads.

However, section-8 will have other unknowns on typically a slightly larger wear/tear on property (not generalizing but section-8 individuals are generally from a different socio-economic background).

However, it does have some elements of Real estate investment trust (REIT) with dividend yields, combined with a truly a unique strategy deriving from my many years of investment experience in star ups in the Silicon Valley and construction experience, including rehabs and new construction.

An individual who has had no ownership in a principal residence during the 3-year period ending on the date of purchase of the property.