Section 8 in NJ is difficult but also very good. I work with Section 8 investors all the time in Northeast NJ. There are 2 cities that have very good programs. The problem is getting the building qualified. Be sure to work with an agent who knows Section 8 well. If not, you could be in for a huge headache. If you are lucky enough to get it, it is practically a guaranteed rent check at the beginning of the month. The best thing is that Section 8 tenants are very well behaved because there are laws prohibiting them from illigal activity, fraud, crime, etc. If they mess up, no more gov't assistance for them.
You can check us out online or call me to discuss. I love Section 8 and is where I am currently investing. It's imperative to have the right area and agent. I'd be happy to earn your business.