The current way the studs are built is not up to code, so they have to rebuild the entire structure of the kitchen wall This is not uncommon especially when renovating an older home and when budgeting you should also carry a very heavy contingency for unknowns. 

If there are any helpful answers, I believe such responses would also be valuable to others in my position.Thank You! 

Start here...have a solid lease with an Addendum of dealbreakers/rules that are written in plain everyday language. 

I’ve raised over $13M as a MF syndicator and it’s an awesome responsibility.

So I would expect a pretty heavy rehab for off-market.  

I am glad they realize that I should not be responsible for the cost of a toilet that failed due to a guest accidentally dropping a vape in the toilet and picked up the replacement cost.  

Start small, build a reserve fund, and work with local experts to ensure your first investment is a solid one.Good luck!

The draw back to these loans is that they are more paperwork heavy than the other "portfolio" types of loans....but if you have ever received a loan on your primary home, it's likely that you will go through the same type of paperwork here with conventional lending.

Usually with an on site maintenance handy man versus the heavy costs of commercial services.  

I’m definitely working hard to create a solid foundation for both my family and my investments, and it’s encouraging to connect with like-minded people who are exploring real estate as well.You’re absolutely right about Section 8 housing, the stability of cash flow is definitely a big draw for me, especially with the U.S. market being more accessible in terms of affordability compared to Canada.