For context, before I learned about his 6 unit I was planning to purchase a 2-3 unit long term rental in Q1 2025 as my first of many deals with a 5 year goal of financial freedom so I can coach my daughter's high school cross country and track teams.

If you want to quote out high efficiency boilers for six Tripple deckers for example requiring installation of separate gas, meters etc. etc. - that might be a situation where you would want to work with a contractor directly because you would have lots of different options with widely varying costs.

Managing tenants: In my opinion, self-manage is stressful, but if you have the capacity to make it work, I would highly recommend it.

This is a self directed RRSP or TFSA account that allows you to lend your money out to people with the backing of their mortgage for a high interest rate. 1st, 2nd, 3rd mortgages, down payments, refinances, flipping or renovation money.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

The rates are high right now but these loans are limited based on cashflow so you cant take a loan that costs more than you're receiving in rental income.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

Leverage is one of the most powerful tools in real estate investing.

My GUESS is these homeowners have been tricked/screwed in to signing a long term power purchase agreement, often with no buy out provision.

I did it myself for a number of years - good rents for sure but never easy.We have found if you buy in the right areas you can have really high-quality people renting by the room though (our average credit score was >700 for a long time).Do think short-term rentals are equally (or more) challenging in my experience.Regardless of the model, I think it's a great call to offload the thinking and stress by partnering with an operator who does the heavy lifting.