Section 8 is how every landlord I know (that isn't depending on loan modifications and cursing eviction moratoriums right now) is surviving record recessions and income gaps.

@Courtney James There are two fantastic meetups in Cleveland on the second Thursday of the month at the Harry Buffalo in Lakewood and the last Thursday of the month at the Melt in Independence.

@Javen Harris Hi, Javen!

@Theresa Harris.

@Harry Brodsky we just completed a gut rehab. - What was the extent of your project?

Quote from @Riley Harris: Hey, I could use some pointers on whether or not I am doing analyzing the cash flow on properties correctly (or whether or not I'm even on the right track).I'll provide an example property: 3 bed 2.5 bath townhome listed at $265,000I project that the rent should at least be $2050 (when renting rooms individually).If I offer a maximum of $250,000, then 250,000 x 0.08 (targeting the 0.8% rule) = 2000 ... so this meets that rule of thumb, now I can continue evaluating.Calculating NOI:Scheduled Rent.....2050Vacancy (5%)..........(102.5)HOA.........................(174)  [Covers lawn, water, sewer]Repairs (5%)............(102.5)Taxes........................(170)Home Insurance.....(93)Electric.....................(150)Prop Mgmt (11%)...(225.5)CapEx (10%)............(205)-------------------------------------NOI: 2050 - 1222.5 = 827.5 Income - Mortgage = 827.5 - 1264 = -436.5 Cash Flow Per MonthQuestions:- Am I analyzing cash flow accurately? 

Quote from @Theresa Harris: I get that a PM will say it is extra work to collect late rent, but if that is paid out late to the owner, they also have a cost.

Quote from @Theresa Harris: Option 1. 

If there is a water lien on the property it survives foreclosure so you would need to do a negotiated payoff to get released.It might be different now but that was my experience years ago on an apartment building that had an overdue bill with leaks etc.

I just finished listening to the podcast #288 with Jason and Carrie Harris ("75 Rental Units in Their Early 30s") who started RE investing while in school.