I read 52 books and listened to hundreds of hours on podcasts and YouTube videos before I closed on a property .yes a lot of doing this comes from practical experience but you can have a huge leg up by simply being educated and understanding what to expect .

There are three dots "..." in the upper right corner of a post. 

I would dare to assume you, being a data-guy, would agree that when you spend years and years in a specific field you're most likely to have a leg up on the competition when they "specialize" in everything like most marketers do?

For tax purposes, the CRA basically considers it as a % - and there is an upper limit to how much of a property can be rented before it becomes completely rented.

Between both they made at move-in (3.5 years ago) upper $40s (forget the exact amount but like $47K) but 3X their rent is over 52K. 

My real estate experience is limited to me searching for and purchasing my first home in 2007 (primary residence) where I basically did all the leg work (agent only arranged showings and handled paperwork) but that is where I fell in love with the business of real estate as a whole.

Does it really give a upper hand advantage (having these documents) if there were to be a worse case scenario and someone wanted to sue me?  

Are you looking for Passive Income from a rental or short term equity from a fixer upper?

I was looking to hopefully get around $150k and buy a fixer upper on some land and pay cash and be debt free completely.

He bought a fixer upper with a 203k loan, and now is refinancing the loan to drop off the PMI.