I am a mason and I have 2 partners who are carpenters, so we are able to very accurately assume what thinsg will cost and have a definitive time frame.In my opinion, buy and hold is a great starting point (that's what I did), theres tons and tons of resources here and people to answer questions for ANY topic!

Just assuming rents wouldn't be sky high with reliable cash flow. :)

If she finishes I am assuming the unit potentially could be affordable for her when she gets off assistance.Really you have to check her thoroughly not just looking at her ability to pay but is that ability to pay solid (do you know they how long she can keep the voucher).

. :) Brian, For the -20% percent rule, it is for sub-to; where i get the property under contract and then find a buyer willing to put a down payment and assume the existing loans on the property.

Not sure how long you would have to live in this property after purchase - I'm assuming it would be similar to the requirements on an FHA loan.

I'm assuming its a no-brainier.One other thing....I'm not interested in investing in war zones or section 8 but I would considered the city of albany which is where I grew up ans has cheaper properties.

Edit: I see you mentioned you work in NY and I just assumed it's NYC because you're in finance.

I will have to check the tenant's credit rating but I would assume it's BBB or better.

I would avoid "advising" them of anything as that would require licensing, which I am assuming you don't have.

Have you found good property managers-I assume you are not buying here in the Bay area.