Try to take care of your necessary electrical work before you get to your marketing period.

Now that they've missed two reporting periods I'm wondering if/what action I should take.

If you plan to make frequent and extended use of the money, the a cashout refi probably makes the most sense.

•If your startup costs are $55,000 or more, you wouldn’t receive an immediate deduction but instead would amortize the entire $55,000 over the same 15-year period.

You don’t have to be as strict as a traditional lender, but it’s wise to check their credit score, employment history, and income stability.Flexible Terms for Stronger Buyers: If a buyer has a strong credit history and steady income, you could offer better terms (lower interest, smaller down payment, longer balloon).Tighter Terms for Riskier Buyers: For buyers with weaker credit, you might require a higher down payment, a higher interest rate, and/or a shorter balloon period.6.

I posted the listing on December 12, and my first tenant moved in on December 26th.As I’m filing my (extended) 2023 taxes, I’d appreciate any advice on what expenses I can deduct and what I should capitalize, especially since the property was mostly vacant.

@Seth Todd there is absolutely nothing the requires price appreciation and rent growth to stop simply because they have been ongoing for any period of time.

Tenanted properties are extremely challenging to sell and the recent change in notice period has made that worse in BC.You are in a tough spot either way, only you know your financial situation and your numbers.

A main thing that everyone should always do during their inspection period on a property is connect with at least 2-3 different property managers so they can get a better rent range/run numbers more other than listening to an agent that might not be as conservative in their numbers on projected rents. 

Another option would be a lease option on the building where you lease it and buy it after a period of time.