We already have chosen an applicant and we are awaiting approval from the housing voucher program.  

But licensing,zoning,insuring, owning and operating one are a different story.This is what my initial plan is (This is all in theory) To enter a new buyer program to purchase our first home using both of our tax return dollars.

& @Bill B. as governments are just finding more ways to squeeze money from the people to support their agenda & needed programs.

“Today we announce the first wave of charges in a massive fraud in Minnesota’s housing stabilization program,” said Acting U.S.

So you'd be paying a small amount per month until you meet 20% in equity of the property.There are other programs as well, but that is generally the best path forward.Do you have enough saved to put 20% down?

They have a coaching program where they teach you how to wholesale step-by-step and will even help you close deals (for a cut of the profit of course).

Learn that FDIC Banks have the larger capabilities and offer better programs.

The programs I know allowing for ~60-65% on a DSCR would have a higher interest rate as well (probably around 9.5%) with the standard 3- or 5-year prepayment penalty.It would heavily depend on what you would like to do and how you would like to do it.

You have to stay in the program longer to succeed.

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.