I’m not saying it’s a no -go ,but I am saying practice your due diligence and get some professionals involved before you get too jumpy  if those numbers are correct that's about as good as it gets spread wise in the Portland market.. 230k ARV is one of the very cheapest areas of the city if its a free standing SFR detached.. and you say its on septic that leads me to believe its not in the city.. and seller warranting that stuff is worthless.. just try to collect after the fact when he is long gone with your money.. get a good contractor in there to assess the condition and what it will take to rehab.. 30 to 40k in our market is basically cosmetic only.

Check to see what counts as an accessory dwelling in Brantford - this would be a triplex in all but name and might be easier permit wise.

It too has been rented for $500/month but making a little cash does not make up for the lost time or effort, and blemishes my other-wise great tenant relationship. 

I think it is wise to have a separate bank account for your personal activities from one related to your rental properties. 3.

I knew I wanted to purchase a house, however my job waiting tables at a local Cracker Barrel wasn't exactly enough to impress underwriters.

The worst, business wise, are tenants paying below market.

Advice wise Clayton Morris makes sense. 

Then their is the gigantic apartment for sale on Carroll but that is a no fly zone for me.Combine this with my post from the other thread on too much A-Class inventory coming on line right now and I think it would be wise to really sit down and figure out real exposure to risk before buying any multifamily around downtown or Notre Dame right now.Edit: The above was super negative!

I don’t think it’s wise to assume that you’ll catch a lot of lucky breaks.You might, and that would be great news, but if you can survive worst case, it’s a lot more likely to be a good deal.

As a general rule, in order to pick a market, I suggest you go with:1) your own backyard (maybe inaccessible price-wise as you mentioned)2) where you have family/friends3) where you frequent as a traveler4) where you'd want to retireBest!