Like you said, your maintenance should be very low on BTR.

Don't go for the cheapest (unless the price is lower because it is on sale), but also don't go for the most expensive. 

How much money, after expenses and taxes would he property make yearly?

If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

If there is any priority in the B-E shares, relative to the others, than the pref for Class E is likely coming at the expense of Class B/C/D.  

Plus, there are upfront costs to consider, like furnishing your condo and any expenses tied to managing it as a rental.As for refinancing, it might not be the right time with interest rates where they are.

There are less expensive hard money lenders out there. 

I am looking at this from the LP perspective, because to the GP, equity is the MOST expensive form of capital.

Why do you put a window that low in the bathroom? 

[I think someone else provided an example of this case earlier]-Now provided you do qualify for purchasing a house (4 units or less), you will have no problem qualifying for a mortgage with a Schedule 1 bank as long as you provide the down payment (35% minimum of purchase price) and confirm proof of fund and the source of it- On the proof and source of funds, the banks would want to see an income enough to cover the mortgage payment and other expenses. and in some cases, they would want to make sure they know how you're going to cover your expenses (housing, heating, etc..) where you live.This is usually where it gets annoying for some folks but if you can satisfy this, you should be able to qualify for a mortgage just likely any Canadian tax resident, albeit you will pay a little more in terms of interest rate, etc.