Section 8 Yes or No?

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There are TONS of threads like this on BP and are definitely worth reading. 

Look into the Section 8 demand in your local market. To determine this speak with other investors and also get a copy of your local Section 8 Housing/Apartment List to determine supply and demand. Heck, the local housing authority can be a good source to gauge demand (the local Section 8 inspector is a great source and knows the demand well).

Personally, in my somewhat limited Section 8 experience, I've realized that I've had less headaches renting out 1 bedroom units to Section 8 tenants and more headaches when renting out larger units to Section 8 tenants. 

There are exceptions to every rule and all landlords have different experiences but this is my experience. 

Aside from that, there's the obvious - background check, credit check for eviction records/judgments, etc.