I don’t know why we didn’t get that vital piece of info in our initial meeting.So my wife and I are extremely relieved .She says she will stay on as a courtesy and if things come up it will just be an “ hourly “ rate for emergency type situations or basic boots on the ground necessities.We really like her enthusiasm and positivity and she is great at communicating and seems  sincerely empathetic to our situation.

Why are you paying $250 for someone to check a leak unless it's an emergency?

Your cash would be used for downpayments, make payments and emergencies. or2.

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! 

How did you find someone to oversee the set up and also be your boots on the ground as needed for emergencies once the rental is ready?

If you aren't close to the property having a solid “what if” emergency person helps.

I definitely don't think that this is the case of an emerging city that will experience a boom in a near future, but who knows. 2. 

I would review your PM agreement you signed to see all the terms and conditions you agreed to and how the money flows and if you are required to have an account with them with a min dollar amount for emergency repairs (usually $500-1000).

Personally I try to reserve my HELOC for emergency or unexpected costs during a project, so if you can try not to use all of it for the initial purchase and planned rehab.

In an event of emergency that in order to make your guests happy you might have to take care of things out of your pocket but make sure the landlord is agreed to reimburse you as long as the cost you incurred fall within a reasonable market rate. 3.