Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

Obviously need to check zoning and set up costs etc. 

I am doing my best to accommodate and fix the insulation as well as see if there are programs in place to lower the cost. however i want to be firm with tenant as they are not compliant with paying rent because of the cost of the utilities.

Can you give a cost breakdown?  

Offering a maybe 10% discount will help grease the wheels and the cost is small.

. :) A zoning change can take up to 6 months, approval isn't guaranteed (despite Aldermanic support), and potentially cost a lot of money (architectural site / floor plans & dimensioned elevations, zoning attorney, holding costs, etc.) 

An LLC is not free.

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

If I invested 100K today, they are currently providing anywhere from 60 to 72% passive tax deductions due to cost segregation, depreciation, etc.