Owning Property" is sometime loosely applied.  

According to statcan the average household expenses are just over 80k a year. http://www.statcan.gc.ca/tables-tableaux/sum-som/l...Also according to statcan the median household income is UNDER 80khttp://www.statcan.gc.ca/tables-tableaux/sum-som/l...Therefore the average Canadian is loosing money each year...Maybe we might start seeing more families pulling money out of their homes.

I hope to find a mentor or advisor who can lend an ear, make suggestions, or at least tell me before I loose my money on a bad deal or a dumb move.    

This is my loose understanding: I was told by some investors this weekend I could borrow the equity in my investment property to avoid capital gains tax because there would be "no gain".

I just figured since he's had the house nearly forever it would be better if someone in the family kept the hose and he could possibly rent it from in the future then loose it to the bank. 

You'd need to find a broker who sits very loose on this, and is likely also an active investor.

Did they claim a loose deck board or handrail?

Mark C. mentioned immediate cash flow, which you may loose also.

Look over the various due diligence documents and make recommendations on the pros and cons of buying a particular not  or is a lawyer the best way.There are some many legal stages of a notes journey I am fearful to loose because of legal loopholes

What do you have to loose?