I just need a place to live.Also the reason I'm looking for fixers is because my credit is really bad and I'm self-employed with uneven paychecks so it would be very hard for me to qualify for a regular bank loan.So, am I dreaming or is it possible?

I would not make a regular habit of this practice.

People in localities that participate in the HVP and already receive regular Section 8 vouchers can use these vouchers toward the purchase of a home, with approval of the housing agency.

My income from my regular job is more than enough and I mistakingly said pre-qual instead of pre-approval.

Yes John I specialize as a commercial broker in multifamily.Residential is 10% but can go up to 12 to 13% if you are buying in a war zone that will be a headache for the PM company to manage.Multifamily if you just have a duplex,tri-plex,or quad the rates typically stay around 10% unless you go for ala carte type services which I don't recommend.50 units or more in one development usually the rate is 5%,under 50 units to 20 is about 6 to 7%,under 20 down to 4 ranges from 7 to 10%.These are not set numbers just what I see.It also depends on not only the number of units but what you are purchasing.If an existing management company stays on they might give you a deal but depends on how they performed in the past from the seller you are purchasing from if you would want to keep them.Also a factor is location and if the facility is turn key and fully performing.If the building needs turning (half-filled) around or is completely vacant there will be extra costs by the PM to get it performing again besides the regular percentages.Anything 5 units or over is commercial lending.Hope it helps.

I would never lie to an appraiser but it is our job to promote our finished product in the best way we can.

Property management is sue happy.E and O insurance carriers charge money with policies based on data they have learned over time just like car insurance.Usually when tenants and owners have an argument the attorneys say let's go after the property manager.Property management doesn't pay much,is a huge headache,and is sue happy.E and O knows PM is the highest form of litigation claims coupled with construction projects.When a broker sets up a PM company they are smart to keep a separate company so if sued they can shut it down without affecting the regular brokerage or their other assets.

But finding a really good deal is very hard, and this is an expensive approach that will result in a higher debt load on the property than a regular purchase.

If your current tenant want's to lock you out, a regular lock (non-smart key) isn't going to stop them.

In the US policy makers' point of view, buying a home is a much better investment than owning regular financial assets.