My question is, what is the best way to describe this scenario for tax purposes.  

My name is Wes and I live about an hour north of Toronto, Ontario, Canada.Looking to get into real-estate investing with long term rentals, BRRR, and House hacking.Currently looking to also find other other local people to chat to about real-estate and how to get started in our currently price inflated Ontario market.Let me know if you're in my area!!

best of luck on your journey

I’m looking to pull equity from a property, but I have a great interest rate that I don’t want to lose.

You only looked at pictures on our website; properties were never sent to you.   

Based on this experience, I feel I have a fair sense of what pricing should look like.Do you have any supplemental carriers you’d recommend?

@Marcos Carbi  If you want to allow a payment plan, Tell them this is the best I can do:Pay $xxx cash by tonight at 8pm for November's rent. and then beginning Monday Jan 20, pay $450 each Monday (in cash?

However, I believe multi family provides the best ROI and is the best way to scale.

It's best to have a property manager involved because they usually know the rules etc.

@Blair Ross Jr Using the actual local utility to submeter or separate utilities is the best way as they have the authority to shut the utility off if the tenant fails to pay.