I don't focus on residential or TK but when looking at those properties and areas look at various companies  and compare and contrast risk versus benefit.In those bad areas to find a good property manager you might have to pay 10 to 12% or more management fee as the tenant is more intensive and more difficult to protect the income stream.

The owner also installed a Rinnai hot water heater that he supplies propane for each apartment.

In a hot British Columbia market in the Fraser Valley of beautiful BC - what filters/rule of thumb should we consider when consider purchasing four older homes (tear down and build a good size 4-6 story apartment)?

They are going to call and say there is a bedbug infestation, rats everywhere, no hot water, holes in the floor, the door won't lock, leaking roof, and the tub is cracked, oh, and the landlord refuses to fix all this.

Short term is very management intensive and should be furnished including all kitchen, bedroom and bathroom necessities.Long term standard rental - unfurnished.

I know it's a hot market but there are still deals out there, with your purchases as evidence.Do you suggest I start as a passive on some deal and learn that way?

It's a hot market so if you don't act quickly then you lose the deal in my market.

So if the purchase price is 950K, then that works out to roughly 17K per unit; and if the purchase price is 850K, then that works out to just over 15K per unit.Per unit prices like that usually indicate that the location might not be so hot and the typical rent will be low.

Though not a hot market, these apartments will fill up at decent rates.

It is the prime and hot area for young professionals.