Andre you have to watch out with that.Tenants can pay partial rent and say you took the money and agreed to a workout with them rather than evicting.I have my property manager go around and if they want to pay a partial he calls me and I ask for check stubs and other data to verify what they are saying is true (hours got cut,boss hasn't given check yet,boss gave bad check for paycheck etc.).Then I can make the decision on what the workout will be if any.If I let them just put deposits in my account or pay partials online that can lead to a big mess.CONTROL is key.If you give control to the tenants some might do right but many won't and they will take advantage.

That said, I'm sure they are not all leeches on the government who have figured out how to work the system for their job.

Insurance agents have some control on the price of your policy.

There is a lot less risk and more control when your eggs are in one basket that you understand really well and you know how to guard.

Doing the option correctly, means that you would need to record an memorandum of option with the county recorder, to demonstrate that you have equity in the property.This is a win win, the family gets the money they need ASAP, and you have the opportunity to sell and maximize your return on investment, while never "owning" to the property.Like JD Rockefeller said: "Own Nothing, Control Everything!"

Assuming the loan means that the actual loan is transferred in your name, not just having control of the property.

Once you have that system in place, and it can take a while since you have to prove yourself to others, usually by making them some money, then you'll be set.

Also, my business partner and I are in different states, so having a cloud based system like Buildium is more practical for us.

HAS ANYONE DONE A MASTER LEASE OR LEASE OPTION TO CONTROL A PROPERTY THEN RENT OUT TO SECTION 8 TENANTS GIVEN THE GUIDELINES FOR THE SECTION 8 PROGRAM?

Regarding 50% and 2% rules, they are great rules of thumb that I did use and considering I have the property and complete rehab with new mechanicals systems for less than 24K (cash), I can say I fit comfortably within the "rules" criteria.