Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

The tenant is part of a project Independence program where the lease is with Catholic charities and the person living there is the subtenant.

I’m interested in hearing directly from investors who have participated in turnkey programs and are far enough along to reflect on actual performance.Specifically, I’d like to hear from investors where all of the following apply:Property owned for 3+ yearsProperty has gone through at least one tenant turnoverOwner is out of stateDay-to-day operations handled entirely by third-party property management and vendorsUnder those circumstances, how has the investment performed relative to your original expectations:UnderperformingMeeting expectationsOverperformingIf you’re willing to share, it would also be helpful to hear:How closely actual maintenance and capital expenses tracked underwritingAny lessons learned that weren’t obvious at the time of purchaseThanks in advance.

The information is gathered by local housing authorities, who locally manage the Section 8 program. 

If you don't have the 3%, the FHA program allows it to be gifted by a relative.

Dang, that’s an expensive program!

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

But would be getting rid of this stress (facepalm).c) Stay put and HODL, then re-evaluate the situation in a year or twod) Get a side gig (I am good w programming, not so much w money as you may tell XD)e) Open for suggestionsf) Open for suggestionsPlease let me know if more details are required! 

Same for 2-years of job/income stability.Tenant Default: 10-20% probability of eviction or early lease termination.Section 8: Class C rents usually meet program requirements, proper screening still recommended.Vacancies: 10-20%, depending on market conditions and tenant screening.Cashflow vs Appreciation: Should cashflow immediately, at the lower end of relative rent & value appreciation.Class D Properties:Tenant Pool: Majority of FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, but should have no convictions/evictions in last 12 months.

Especially when dealing w/ a lender, certainty of execution and program flexibility matters the most in my opinion.If you've ever waited weeks to hear "this won't work" on a DSCR deal, you know the cost of misalignment.When you start closing at volume and are trying to scale your portfolio: predictability, early clarity, and execution matters over everything else.Working with a lender who may be slightly higher on rate on edge case scenarios, but has predictable execution and a quick closing timeline will always outperform the lender who comes in a little cheaper but has a nightmare closing process.If you ever want to discuss deal metrics, always happy to help!