Pros: "guaranteed' rent though this is subject to government funding (currently funded through HUD) but we did receive payments still during gov't shut downdeposited to bank accountstenants are generally better than cash tenants because their payouts demand it.See my con but because the process is difficult for tenants they are generally committed once they find a place and are settled. 

But cash on cash does play a purpose, plus it’s an easier and quicker way to analyze something initially.

I could be wrong, but he's in the market I play in every day.  

Then again where the market is guys are getting into plays that feed off 6-8%.

Managing S8 tenants can be very demanding.

Most of the success comes from playing the long game.Your local RE meetings will be a great resource.

One turn over could wipe out an entire years worth of cash flow (or more)However, the BRRR strategy does focus on a high ROI play where there is little to no money left in the deal.

Some value (appreciation) investors are pivoting to cash flow plays right now (and will pivot back when the time is right).You are asking the right questions.

There is definitely more local knowledge that comes into play on the list side of things. 

Worse case, if plan for the upside portion aren't approved, I would still see $400k once all is said and done.The only thing I am a little concerned about is the over-all political and economical climate of things in New Jersey... although this particular municipality has weathered the financial turmoil of the past exceptionally well due to proximity to NYC, etc.Is anyone on this site still playing in the New Jersey speculative market?