I have found many very abandoned over grown houses in central Florida.

Again, all numbers I used (except for lot and commission) are real conservative, and I have it on good authority that some investors in this area make $75,000-$80,000 per house.

Just like with a non-SEC 8 tenant, your lease is with the tenant, not the housing authority.  

Washington is a beautiful state, but I have never been to central Washington, just central Oregon.

@Sonny SachAccording to the NYC Dept of Finance, they only sell tax liens to an authorized buyer. 

I assume  you're referring to central AC, and not just window air conditioners?  

all water heaters and central air units are less than 2 years old.  

(b) Conditional use conversion — authorized. (1) (i) In all districts except the R-2, R-4, R-5, and R-6, the Board may authorize, as a conditional use, the conversion of a building for use by more than 1 family, as long as the number of dwelling and efficiency units to be allowed conforms with the applicable principal-permitted-use bulk regulations for the district in which the building is located.

1st Central Bank and Trust is who I used to bank with.

I authored an article about this recently, and the relevant paragraphs are here:"The IRR is, simply put, the discount rate (expressed as a percentage) at which the net present value of an investment becomes zero.