We then are refinancing on commercial paper through a regional bank.  

For example, some of my keyword alerts include "Canada", "Ontario", "Toronto", "GTA".

I don't have calculated statistical data to back this claim up, and it could be regional, but it often seems that appraisers are more generous when it comes to appraised market rents than they are when it comes to value.I'll not bore you with the math, but the arithmetic is more generous if you do not intend to live in the property than if you do intend to live in the property (If you aren't going to live there, it is in theory possible to have a calculated DTI of 0.000%... which is in part why commercial financing uses DSCR not DTI). 

@Nick Ovington - I'm not as familiar with other areas, but I can tell you about Toronto.

I realize this may differ from region to region - but perhaps there are some New Yorkers/New Jerseyans out there who can answer this.

I am in the DC region and properties under $500k inside our beltway in a good area are off the market within days, properties in $600-$800 take longer.

Make this meeting in Toronto?!?!

I used a local regional bank, and have 6 properties in 18 months. 

Does anyone know of any regional lenders in the St.

So I would like to be able to look at each town individually and I may even want to expand further out into some larger towns in the region.