However while people in Windsor doesn't have the luxury of high paying jobs that GTA residents have, is it just a temporary fever of buying houses, or there is really something going on in this city ? 

@Jennie Berger The RS-3 Zone allows for Single-Family residences & 2-Flats as "Permitted Uses"; however, the RS-3 Zone still requires 2,500 sq.ft. of lot area per unit (i.e. 5,000 sq.ft. for a 2-flat) unless the lot meets the exception for the characteristic of the block as previously mentioned by Nicolas; then it can be reduced to 1,500 sq.ft. per unit in order to construct a 2-flat.

If you feel ambitious, you could try a BRRR strategy adding additional equity to the subject home and then taking equity out of it to pay off either the HELOC or if you decided to the refinance the primary residence. 

In some cases, after crunching the numbers, the profit margin was so slim—or even negative—that I had to pass on some promising opportunities.Here’s my situation: I currently own two properties—a primary residence and a rental property—both of which have substantial equity.

Investment Info:Single-family residence buy & hold investment.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Investment Info:Single-family residence fix & flip investment in Indianapolis.

Investment Info:Single-family residence fix & flip investment.

Plus, if you aren't able to get approved with what you've got now in terms of savings, credit, etc. you can learn on what you need to qualify so you know what to be working towards. 

So when you do the 1031 you will need to purchase only as much as your part of the sale.But where this is complicated is that purchasing a LP interest in a syndication does not qualify as buying real estate.