In my opinion, your occupancy rate and min night stay seem in the ballpark for planning purposes at this stage.

You can probably just go ahead and live in that 5th unit, but I believe whenever you go to refinance it with a bank or what not, the 5th unit will make it require a commercial loan and not residential regardless of what the county records show the property to be. 

In California, where I live, it could take a long time.

I actually have a client who lives in Toronto as well! 

I live in the St.

I grew up north of San Francisco and moved out here to live and invest.

I live between Somerset and Middlesex counties, so I’ve definitely noticed how tight the inventory can be.

My lease requires renter's insurance which should cover loss of use if the unit becomes damaged/uninhabitable, but I don't think renters insurance covers costs of living expenses incurred during just an evacuation.

For context, the tenant is an elderly lady in her 70's who lives alone.

I'll be living here for another 1.5 years, I'll be able to pay down about another $10k.