Or paying off my debt, while I provide them with a nice house to live in instead of an apartment. 

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

One thing to think about are the tax implications of being a Canadian paying US taxes.

Another thing to note, these are high-paying jobs being moved to Phoenix. 

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

If I'm paying $150 to turn a rental, you would probably have to be sub $100 for me to give you a shot.

Plus, you have to pay the cost to be the boss.

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

Currently own three properties but looking to make my first sale.

Coin jams are going to be your second biggest headache unless you invest in those fancy ones with tap-to-pay but those cost a pretty penny.