Looking at a rental property in Dundalk, MD - 3 bd townhome. Mortgage is estimated at $1500 and planning to get section 8 rent rate at $2300. Pretty solid for my first rental property?

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Never do section 8. While it can be good if done right, it’s your first property. My wife had an eviction that took 3 years to complete (NYC)

You can do the math on the operating loss

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SF has entered the chat

Get away of Section 8. It will cost you a lot of $$$$

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How much are you putting down? Does $1500 include insurance, taxes, and HOA fees? Do you have reserves above what you’re putting down? Do you know the eviction process in MD?

Numbers look alright. I’d save extra for vacancy reserves and turnover costs as a “just in case”, but also educate yourself on how to navigate the worst case scenarios in your state.

As someone who owns apartment buildings make sure you understand the eviction process in MD, specifically for section 8 and get a local referral for an attorney who handles evictions to see what the cost looks like, it can be very hard and expensive to evict. I would not recommend going section 8 for your first property

Isn’t Section 8 paid for by the Gov?

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