Section 8, Project Based Voucher in Texas - Advice on Deal

[Suzanne Chan]

Hi all, a question for anyone that deals with Section 8, PBV (project based voucher). We are considering a deal, where all units are under this program, the seller I believe has already utilized the subsidized loan. They just completed the 5 year RCS so there are no increases besides the OCAF increase. The contract expires in 10 years with another RCS evaluation in 5 years. What are the pro's and con's to buying a building like this? Any thoughts would be great this is in the TX market near Austin. As well, how hard is the compliance in transferring this kind of contract, how long does this normally take? Thanks in advance for your help!