Less vacancy, less repairs expenses, monthly cash flow, you still own the property so you will continue to collect cash flow, and you’ve had significantly less headaches the whole time.

They may be more flexible, and probably will be less headache than a bank.

You might make a little more on the cash flow but the damage these low-income tenants do to your property in my opinion is not worth all of the headaches.

Battling with renters over expectations on gardening (at least in my markets) is an unnecessary headache.

Almost by definition, these properties will have more vacancies, more repairs and more headaches than properties in the median price ranges. $30-40k in Tampa Bay doesn´t go very far these days, you will be in class C and D neighborhoods.

.- let seller know you are there and ready when they get it figured out - talk with attorney and tell them the truth, work it out- find a new dealI know others on here would do other things, but to me ... not worth the headache.

However, if they want to get out of real estate because of property management headaches, then they may want to consider a 1031 Exchange into alternative investments that would eliminate property management issues such as: Net Lease Properties Tenant-In-Common Investment Properties (TICs) Delaware Statutory Trusts (DSTs) Oil & Gas Interests

If, after getting the refi figures, it still only calculates out as a marginal investment (or a loser), pull the trigger, say NEXT, and unload the property and headaches.  

@Daniel Tolchin I would use a broker it is a lot easier and a lot less of a headache.  

Not all section 8 tenants are like that but those are some of the issues I ran into with section 8 tenants that I've never had to address with non-section 8 people.Bottom line is if you're going section 8, there are a lot of headaches to deal with....many come from the government and the people who run the program.