As many of you know, I am selling my house and buying a new one.
I was talking with an agent who gave me this idea and wanted to get some other opinions:

Put 10% down on my new house, buy out my mortgage insurance so I wont pay PMI on the new house.

Take the remaining money I have left over, put it through a Corporation (I would need to start a corp) and buy a rental property with 25% down.
The property would qualify for Section 8 based on the area its in. I was told section 8 will give you first, last, and 3 months rent upfront.
After all said and done, I would be netting roughly $600 per month.

I have heard mixed feelings about section 8 tenants so I am wondering if anyone else had any experience with this.

Any and all info/advise would be great!