Be careful when you select entity types.A pass-through entity in the United States, such as an LLC, may not hold the same characteristics in Canada.What market are you looking to invest in?

Also evil, by the way.If your real estate business is filed as part of your personal tax return, which would be the case without an LLC or with a single-member LLC, then double-entry accounting and Balance Sheet are not needed.

She'll pay me market rate rent, thus keeping that money in the family, and the condo will eventually transition into a more traditional rental property that will support my retirement and that my children will one day inherit. 

I've been referenced in a number of real estate books and publications, as well as written a number of articles related to creative real estate finance.  

When buying real estate why does cash flow matter if you are getting $100+ per month and it seems such a small amount to generate any wealth?

Hey everyone, I have a property I purchased off market.

It doesn't sound like you visited the market, the PM, or the seller in these markets.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

I'm really looking forward to your blog and hearing about your experiences in these markets.

Hey Raymond, welcome to the Forums.Wishing you success in your real estate journey!