It really depends on how your lease is worded and also your local landlord tenant law, so you may want to brush up on all that quickly.Even if nonrenewals were halted in your jurisdiction (I don't know if they were), this goes beyond simple nonrenewal if it truly is a safety issue.

Just because you live in the same building doesn't mean you should be soft with your tenants.  

@Austin V Nguyen even with your optimistic soft cost you only net $1200 per year on an investment of 44k dp and $6k closing cost. 1200/50000=2.4 cash on cash return.

I found out quickly I was "too soft" and went to a pm. 

It is true, even after all this work, you only make what you keep (and the QC government is not soft on taxes).

That should give you a fair idea of how soft the market is right now.

Still, many of those are "soft" fails.  

I would go 75% if the market gets really soft and cash flow is really highReserves for GP: Was at 9-12 months, now at 12-18 monthsReturn criteria (Pref, IRR, Eq Multiple): Same minimums 7 pref, 14% IRR to investors. 1.8xGP Fees: No change hereGP Skin in the game: No debate in my mind.

As they say in the old country: "If you have a soft heart, you'd better have a hard arse."

I see the typical fee listed, must be a high interest rate.They do pull credit (soft pull) so you have to qualify for the loan.People making good money doing short term rentals should be putting back reserves to weather a couple months with reduced or no income.