I was making the distinction between "single family residence" (SFR), the definition of which is 1-4 units, and "commercial" which is 5+ units (in a single building), not the purpose for which the buildings are used (commercial, as in rentals).

There is nothing wrong with that, but I want to understand a key distinction.

There in lies the key and the distinction that Bill points to as well.  

As of the 2014 taxation year, New Brunswick has the distinction of the highest combined tax rate of 46.84% on income amounts over 138.6K.BTW:  The Canadian Dollar has only slid in the past 6-8 months ... in 2013 it was running on par or greater than the USD.... now, back to Thomas' topic ...

"As is" generally is just a distinction that the seller will not Automatically pay for necessary repairs to meet FHA/conventional financing standards.

All of a sudden, that cash flow they’ve created is now needed to support new spending habits—and its not helping grow their business or portfolio.We set up new accounts at a separate bank from our personal accounts to keep a clear distinction between the two, and eliminate the temptation of spending money from the rentals.

All options come with their own distinct set of pros and cons.

I can show my calculations on the hundreds of thousands of dollars I expect to profit but show the delay in cash flow and the novice will look at someone else's calculation of how they will get $200 a month (hopefully) and they jump on the cash flow either because they are poor investors that are not educated on the difference between cash faux and profit OR they are poor investors that need that $200 to pay next months  cable bill.Other than this distinction, Seth, can you elaborate on any other valid differences?

., my little crystal ball shows that one distinct possibility is 3% to 5% down, FHA or FNMA, live in it for at least a year while saving up your 3% to 5% down on the next one & improving the place you are living, convert the improved departing residence into a rental, rinse and repeat. 

As an agent do you see a distinct Need for any of these services in the area?