However, if your property is larger or more complex, the cost could be higher.

Housing prices in two of our larger cities (Vancouver and Toronto) are also crazy high (eg $1M to buy a starter home)...actually in Vancouver proper at the moment the cheapest home (single family, not strata) is $1.2M...surprisingly (to me) in Toronto the cheapest home on the market is $650K (ignoring some listed for $1 as clearly there is a catch).Our mortgages work differently than in the US, and what we get for rates are only locked in for 1-5 years (typically) and then we have to renew at whatever the current rates are. 

So either 70% of them are liars, or EV’s are just a bad choice.

They often have no choice but to stay and rebuild with insurance money. 

TN wasn’t a choice when I chose so I went with the low property tax, cheap insurance, no income tax, no weather, low maintenance, cheaper and newer inventory location that everyone is moving to. 

Buying down the rate with points is a personal choice, but if you're holding the property long-term, it can definitely be worth it for more stable cash flow.

We plan for this property to be for investment and rent out in the future when buying something larger.

I suspect they drew you a flow cart and then your conversations went something like this: I need to transfer my properties to an LLC for anonymity.They are told they are not anonymous & that is not asset protectionBut I need it anyway for tax savings.They are told there’s no meaningful tax advantages  But I can get non recourse debt because the LLC is the borrower.They are told they still have to personally guarantee the loanNo, I can get non recourse debt I read all about it.They are told yes, while that is true, the leverage is customarily low, applies to much larger CRE transactions and there are still carve outs.

Sure the million dollar suburbs are nice if you have that kind of money and are playing the larger appreciation game but dollar for dollar pound for pound when it comes down to rent to value ratio its difficult to find the same kind of cash on cash returns section 8 rental properties offer in Detroit.

This is because rent growth has a much larger impact on cash flow than initial cash flow over a long hold.