First Property - Section 8?
My wife and I are ready to purchase our first multi-family, first investment property. I was driving by a triplex in a low income neighborhood for 95k and grosses $1400/month. After I scoped out the property, I came across a duplex across the street from an elementary school. I called the realtor, turns out it hasn't been listed yet on the MLS. They want 205k, it's leased on both sides grossing $2150/month. In researching the property after driving for dollars, I found out it is Section 8 housing. I have read several differing opinions on Section 8. Does anyone have an experience with Section 8 housing for their first property? Do you recommend this path or should we continue looking? Since the property is only a year old, fully leased, once it hits the MLS I believe it will go fast. The analysis tool on BP for rental property shows it to cash flow at $327/month after high estimations in expenses since I don't have hard numbers yet.