The outcome was great.. they secured a mid-century home with a rental unit that offered both a comfortable living space and a reliable income stream.On a personal note, a friend of mine made a bold move and purchased in a slightly less popular area.

Quote from @Laura Morlock: I have an opportunity to purchase a very beautiful and unique property - striking century manor house directly on the river, 1.5 acres, huge detached garage/workshop, in a quaint little town 15 mins to two major cities and a little under an hour west of Toronto.I know the property inside and out, it's turnkey, and I would love to own it, but I don't know what to do with it.

NeighbothoodScout shows appreciation for this century at 3.64% or ~$10.5k/year plus there will be equity pay down of -$2.7k. ~$13200  (forecast equity increase) -$4200 (cash flow) = $9k First year profit ideally that will increase annually.  

Check out this recent thread on LLC’s, it’s pretty eye-opening that of all the very experienced investors on here, with centuries of investing experience combined, the consensus was that LLC’s are not needed for most investors:  https://www.biggerpockets.com/forums/926/ Of course gurus will tell you that you need one before you even have a single property, because it makes them sound smart.

Combine this with interest rates that are near the high for this century and cash flow is challenging.  

As for what you are missing: Case Shiller ranking of top residential buy n hold cities for this century had the top 3 spots all being CA cities. 

Combine that with rates that are near high for this century.  3 things could solve this 1) RE prices fall (that would be bad for me) 2) rents increase a lot without RE prices increasing similarly (this would be bad for tenants) 3) rates fall a lot.  

.- California has higher rate of return for the large coastal cities matches the stats case Shiller used to provide for total residential return for this century.  

Eagle Rock Resort specialist real estate agent with Century 21 Select Group in Hazleton PA, property owner also in Eagle Rock.

@John Paul, it's time to graduate from "old school" and start living in the 21st century for your own benefit.