If you spend the entire $300k restoring the property, then here is the end result:- deductible casualty loss of $50k- no current tax- the restored property has $0 basis and cannot be depreciated- when it is later sold, the entire sale price is taxableMechanics and reporting are tricky, and I would not recommend to DIY it, especially since my scenario is over-simplified, and your real scenario is likely to involve more gotchas.Thanks so much. 

With the massive increase in STR properties in the US, I am hopeful that lenders and appraisers will evolve to apply income/exp metrics to STR deals specifically, on top of generic property comps.

Over the years, I’ve learned a ton, and now I’m applying that experience to my Real Estate practice.

You will probably have more of them here than most places so ask them what was involved and how long it took.

I was involved in a bunch of industries—from wellness and gyms to digital marketing and consumer products.

With new regulations in Canada like the flipping tax and property gains tax, I want to be mindful of the risks involved. 

., $25 or $50)- If they use autopay for timely payments, they pay just the base rent ($1,000)In the above example, you see that a discount of $25-50 was applied in the case that the tenant chooses to setup autopay to schedule on-time payments via a given PM software.Please let me know if any software comes to mind and also any feedback on the positive incentive idea.Thanks in advance!

My question is, because my agent was involved in showing the home and made offers for us while it was listed (6 months ago) should I go through them or it is okay to pursue this as any other off market property without an agent?

Learn what each one of these are, and see which makes the most sense to apply to your specific financial plan. $150 cash flow on any rental especially a triplex is dangerzone imo. 1 month of vacancy of 1 unit could destroy a years worth of financial gains.  

That being said, I had to translate a lot of documents on my own for the loan process, so there was more effort involved.