If your units are mediocre, hard to fill, and you are not expecting their values to appreciate, the Section 8 program is OK. You can get a range of tenant types, from the hard-working-but-low-income family, to the real losers. The regularity of the monthly gov’t check and the long-term, uncomplaining nature of the good tenants can be great. Problem is, if you get a loser, the gov’t makes it hard to get rid of them. The bureaucracy you have to work with is frustrating, and the annual inspections nit-picking little items is insulting.
You can pick and chose your Section 8 tenants carefully and do OK. Also, the S. 8 rents can often be above market rents, esp. because the gov foolishly puts units into a category based on #of bedrooms and (I think), # bathrooms. So if you have unusually small BRs or are in a rough neighborhood, you can game the system and extract higher than market rents.
Some landlords swear by Section 8. But it is not a plus when trying to sell, as it may put a damper on your value.
