Situated on a 0.52-acre lot, the property provides a spacious environment.

Your situation has quite a bit of nuance for sure.

What financial targets do you have?  

They have no credit history, so you have no idea how responsible they are financially.

Here's how to handle your situation for tax purposes based on IRS guidelines:1.

From what have been explain to me there are advantages and disadvantages in both situations and they aren't exactly interchangeable.Don't know much more than this. 

A community of growth oriented, abundance mindset, go-giver individuals with a BARE MINIMUM commitment to become financially free through real estate investing.We focus on providing education and building networks to help every member solve their cash-flow freedom equation, so they can have the time-freedom needed to follow their passions, make a lasting impact and even change the world!

@Jordyn Ohs Suggest you run a financial model and assume 100% vacancy.

This book introduced me to financial concepts and made me look at money and investing in a completely different way.

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?