You'll also want to factor in any maintenance costs and property management fees.It's a good idea to consult with a financial advisor or real estate professional to help you determine the best course of action.

Look for lenders with experience working with Canadians and who understand the unique challenges and requirements involved.Consult with Canadian Banks: While you mentioned that Canadian banks have strict stipulations, it's still worth consulting with them to explore your options.

Whenever someone has a situation requiring specialized real estate expertise and I recommend they retain a professional with the CRE designation as a consultant, they inevitably ignore my advice and instead hope to obtain “free” consultation.  

If you plan to expand your portfolio, starting with a 4-plex might provide a stronger foundation for future investments.It's also worth consulting with a local real estate agent or financial advisor who specializes in investment properties to get personalized advice based on your financial situation and market conditions.Best of luck with your investment!

I've asked a number of the major consultants and research people whether such evidence exists, and they all say, 'no!'"

Consult your local laws, but you can possibly deduct the cost from your rent if they do not pay. 

We will continue to monitor our practices to ensure compliance and protect our interests.

If you feel too inexperienced and you want his advice and guidance, hire him as a consultant.

Make Assumptions: Consider possible reasons like a tired landlord, property in rough condition, or a bad location.Confirm Assumptions: Ask the seller and consult local experts (property managers and real estate agents).Update Assumptions: Incorporate the new information.Adjust Analysis: Integrate the updated information into your analysis.

My instincts told me something was not quite right and after consulting with another RE investor, I decided to respectfully decline to do business with the guy.