One of the most common posts observed in the forums is "I just settled on my 3rd section 8 rental and have a goal of reaching XYZ doors in 3 years, 5 years etc". Many arrive at this strategy through paid mentorship, while others settle on the strategy through their own education because its such a  widely discussed strategy with so many industry participants peddling the concept thanks to the low barrier of entry and ancillary services and fees that are generated.  I believe it's important to understand there are certainly examples of investors who succeed with the use of the section 8 rental program but there is generally an underlying thesis that leads to the success, not the section 8 program or "guaranteed rent"  in itself. That's an important distinction worth noting. 

When these posts surface there are two camps who chime in.  Those serving as cheerleaders and those who caution about the pitfalls. Usually those who caution offer cautionary tales because they learned first hand the difficulties in growing a scalable and PROFITABLE portfolio this way. Meanwhile the agents, PM's and lenders often serve as cheerleaders.  The cheerleaders are largely  fee oriented service providers and profit regardless of the underlying real estate's success. The good agents, PM's and lenders can pinpoint the risks and often do both in these forums and in their daily business but they are the minority (if you happen to have them in your rolodex,  hold on to those relationships, they will prove invaluable over time). 

This all sets the stage for what I share next and that's the frequency in which those who post about their lofty goals are seemingly unaffected by the sound advice those who have nothing to gain have to share. Often it's " I haven't had any issues with my initial properties, but thanks anyway"  or "my mentor showed me how to do it successfully".  

The best real estate advice I ever received was from the CEO of one of my first employers who became an impactful mentor of mine. His message was quite simple: Until you've been humbled, you have not figured out this business. The first property I ever purchased was a section 8 duplex in North Philadelphia. For those who don't know the market its not a place you want to drive through at night.  At the time of my purchase I was swayed by my realtor and his affiliated PM business despite  numerous higher ups at my employer trying convince me otherwise. Mind you I was fortunate to work for a company whose leadership is recognized as some of the most brilliant real estate minds in the business.   10+ years into this business I now appreciate the advice given to me at the time and my message to you is the same advice given to me. If you haven't personally been humbled by this business you should be more willing to listen to everyone's point of view, not only the cheerleaders.