It’s unlikely any program is going to pay $800 for a room.

Appraisal is a strong background going into this, you've already got a leg up congrats.I'm not in your market but I'm a big fan of all things affordable housing. 

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.

Prices are still low compared to most markets homes are going for around $204K on average but they’re steadily climbing.

LLC Taxation for FlippingSince you’re flipping the property in under 12 months, the IRS usually treats it as ordinary income because it’s considered a business activity, not a long-term investment.

Really just need to get my first deal under my belt!

I’m excited to continue growing and learning in this space, so any insights would be really appreciated!

And sure enough, they're not the same thing.Adding an extra layer of getting a document signed outside of Airbnb or VRBO is just going to create headaches.

Mold issues can become major legal issues if the tenant were to go that route.

A deal may have a good cap rate, but when you factor in repairs, acquisition costs, and debt service, you could still be under water.