They don't cash flow....at all, but the future benefit here is the option to build new once the neighborhoods continue to appreciate and get new developments.

In fact, given the start up costs, the best way to make a profit as an MTR is to earn the continuing support of the property owner served.  

Hoping the experts can chime in here--thanks, all!

Same guy handled a triplex rehab (the one with the theft), and that's where he took money that he simply pocketed or used in some sort of Ponzo scheme to pay off other debts (I have no way to know, but the money did not go to contractors or to continue work at the site).

Now, I think the best exit strategy to avoid recapture tax continue to build on your portfolio would be to do a 1031 exchange. 

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

The first monthly interest installment of xxxxx due on or before April 15, 2024 and continuing in like consecutive monthly interest installments of this amount for a total of one (1) year or twelve (12) payments at which time the entire unpaid balance, including Principal, accrued but unpaid interest, will become due and payable.

LOTS to talk about in Calgary as quality multi-family deals are being snapped up quickly, multiple offers on handyman specials, and parts of the city is experiencing Sellers Market, while the CIty of Calgary has decided to continue their major capital reinvestment projects, so there will be emerging areas soon! 

Your definition is correct for "legal non-conforming".The "legal" part of "non-conforming" is dropped when it doesn't apply so most commonly people call these units "non-conforming", "finished", "in-law suite/unit", or "bonus unit".Non-conforming: Any property that doesn't meet current zoning requirements.Legal non-conforming: A non-conforming property that was lawfully established under previous zoning regulations and is allowed to continue its use.Based on his posts @Mario Morales is referring to a non-conforming unit.

As this process continues, I will have more accurate information, but these are all amazing things to think about.