@Justin Lenk   Depending on what kind of government assistance the person is getting it may not be in the owner's best interest to get cash or even find a buyer.Many elderly people are covered by Medicaid. 

I would print out a bunch of comparable listings and take them along when you offer that much less.

If it's legal, but not conforming to the current zoning regulations, then you'll need a rebuild letter from the governmental entity that governs zoning.Once you get the zoning nailed down, get a hard money loan and get the whole thing finished so you can get a DSCR loan (you're right, before they get more expensive). 

Pros:- Guaranteed rent direct deposited to your checking account each month by the U.S. government (and they are never late)- HUD publishes the fair market rent increases every year so you can ask the section 8 office for an increase in rent and as long as it is within reason, it is normally granted. - It is hard to find landlords that accept vouchers (in my city the waitlist alone is 200+ families) so people are more likely going to want to avoid getting evicted once they find a home.

From agent optics, the least favorable part of it is seller's expectations being inconsistent with reality.What I see most commonly is an overestimated net revenue trying to trade at a 5 cap when it is really a 2 cap, or a random value associated to the STR permit and added in addition to the house priceThere are benefits -- like finite competition and peace of mind knowing the government won't shut you down out of no where Btw - enjoyed your episode on the Sjogren podcast !

Your cash flow will only grow at a rate equal to the limits set by governments (or market) X current rents X number of units.

This can be done either on the local government website that manages building permits or by visiting them in person.

Coincidentally, right after that the realtor got back with me and his response was "in reference to the government notification, the seller shared seven years ago he had a fire in the unit that took place.

Have you checked into Government tax credits and utility company rebates?

Regardless of what you feel about vaccines, this would seem to me to be an overreach of government power.