The Housing Authority does NOT screen for rental history, property care, or lease compliance, which means a thorough screening process is just as important for Section 8 tenants as it is for any other renter.✅ ID Verification – Confirms the applicant is who they say they are, reducing fraud risks.✅ Judgments & Liens Search – Since these no longer appear on credit reports, a separate search can uncover past unpaid debts or court actions from prior landlords.✅ Eviction & Rental History – Checking payment history, past evictions, and landlord references helps verify reliability.✅ Criminal Background Check – Ensures compliance with local laws while flagging potential concerns.Section 8 can be a great program for landlords, but only if the tenant is properly vetted.

Ive also done a few property flips in New York, though not since 2001-2002.

There are always opportunity on the MLS....properties that are listed/categorized incorrectly....properties that rely on public record square footage that is not accurate but the broker is too lazy to verify and simply relies on the autofill data, properties that have base zoning that allows for a better use, properties with unique characteristics that are not properly detailed in the marketing information, properties that are simply listed over priced and become stale and are good negotiation opportunities. 

This seems risky, since I have to pay for repairs on a property that’s not even mine yet.

Given your skills, you might consider value-add properties, BRRRR (Buy, Rehab, Rent, Refinance, Repeat) strategies, or even house hacking to maximize returns.

A good PM protects your monthly income and your overall property value.A skilled property manager will protect your property, income, time, and sanity.

I don't necessarily need a full time property manager, as I have been able to handle my tenant's requests by myself so far.

Secondly, the property and strategy that's utilized will play a critical role in determining the best lending partner. 

He sold the property to a client of his for 100k, and that investor will put 100k in and their target exit is 320k. 

If you own a rent-controlled property, you may struggle with below-market rents.