People get excited about the 'guaranteed rent' from Section 8 programs, but they don't realize that tenants can lose their voucher, there is a maximum amount the program will pay based on the Fair Market Rent for your area, and that you must have a yearly inspection, even if no tenant turnover has occurred, and that it's very common to fail these inspections, meaning you have to fix things and then be reinspected in order to continue to qualify. 

But a 1 year lease is common in my area, and hopefully the screening process is what gets you "mostly" very good tenants. 

That seems pretty clear which is why it's a common point in contracts, "applying for financing" is specifically measurable, if they can't prove to escrow they applied by a deadline specified in an offer then that should be a pretty clear breach and the EM should be collectable by the seller. 

(Irregardless of the actual law, it would arguably make total sense if the landlord could keep the deposit until the end of a fixed term lease, as security for the outstanding rent payments that the tenant is obligated to pay; but what makes rationally sense is a whole different topic as laws not always make sense.)

I less this is one of those somewhat common land lease deals up in the northeast, I know of no way for someone other than the land owner to “own the house”.  

But these seem like big "Ifs".Does this situation make sense to move forward on??

Does cost seg'ing these single families even make sense? 

.- just to give a sense of what kind of property i'm talking about, let's say the current plan is a 100k property in orlando fl. from what i understand, to pros of owning a condo is that most of the outside repairs are being taken care by the hoa, which means less troubles, downside is of course it will cost me 200-300$ a month (rough estimate, looking at the properties i checked so far) and from what i understand condos appreciation tend to go up less in time.so my questions boils down to the difference in repairs cost:- usually the rule i hear about allocating money to repairs is 1% of the house values. is that value the same for both condos and single family?

@John Lee That makes sense!

As long as it makes sense as an investment property, meaning, I am hitting my personal cash-flow and ROI goals while covering all the expenses you have accounted for in your analysis, then it is a WIN, and I move forward with the deal.