The CBC video (think of it as a Canadian Dateline show) is found in the link below (22 min video) but well worth the time to watch.

It scares me thinking about trying the Airbnb route but this area has two distinct tourist seasons in the summer and winter so it might be worth it for at least some of the units.

Reason for question: If i were to purchase a SFH  for $75k and spend roughly $175k renovating the 3 bedroom home and converting a massive garage into two 1 bedroom apartments, I believe the property would be still appraise for about $220k.

At the acquisition price points, and the market value of the units if you do decide to go wit a pm you’ll find yourself not being very profitable as most pm’s will charge $75 per unit min or 8-10% of gross rental income.

I see some of the states that are still stuck in the 1800s using title abstractors taking a week two weeks.. the folks that are local simply dont know any better as its just SOP for them.

It sounds cheesy, but the best way to prepare is to work with a friend or two and role-play.

One of two things happens when you don't have that detail.  

Trust is made up of two things: Competence and Character.

I am just 20 min down the road from you.

Two year build, 1year lease up.