If you’re serious about buying properties and doing real estate, then I would suggest working with the CPA that understands real estate even if the services cost more than your average H&R Block or some TurboTax program you can buy.

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

People even do this in Vancouver though it must be extremely challenging.  

there just aren’t many sold properties in the neighborhood in the last 3 months and even out to 6 months is limited.

Even with a property manager taking a percentage, you’d still see a return, and it might save you a lot of stress managing the property from out of state.

Is that why you’re leaning toward renting, even with a $1K/month loss?

Your construction skills can give you a significant advantage, allowing you to save on rehab costs or even flip properties for capital.

From my understanding, no one is employed, they are somehow current with the rent, but they are definitely not someone I would offer a new lease...not even at market rate.  

With hardwork and ceasing opportunities we've managed to be part of this major asset and making it even better.