Coming late to the conversation…
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I have limited Section 8 understanding from a friend that ran numerous rentals. Some cities place restrictions on where Sec 8 housing can be. You can’t just declare any place to be Sec 8.
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If you have the money and the means, buy the condo, let the person stay there, count them as a dependent on tax returns.
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If you still want to buy the condo and rent it, form an LLC. Might complicate your tax return a little but it does offer some benefits and protection, which varies from state to state.
JLC