Inspite of the recent correction, as the house prices currently stand and with inflated interest rates plus steeply rising property taxes (year over year municipalities have increased taxes and utilities 7-15% to make up for covid deficits); cash flow is virtually impossible even if you buy in the GTA outskirts like Oshawa, etc.

One way or the other. 4 maxed credit cards, 3 personal loans 9 mortgages, 11 utility bills.

This can cater to multiple small families or individuals on SNAP, maximizing the utility and affordability of the property.

it doesn't cost a lot to put utilities and parking pads in or even entitle it or to purchase land. it's just a lot of work that no one wants to do. parks are hard to get approved but they are not expensive to develop. it's nothing but utilities and parking pads and an office. harder to finance too, but compared to apartment development or mixed use development it is one of the cheapest and highest performing assets because of reduced construction costs. 

I wouldn't recommend subdividing them and putting utilities in. multifamily entitlement is much higher returns than subdivisions. just my advice but I have 10 years of experience in agency, appraisal, development, construction, from a national perspective but based out of columbus 

To maximize its potential, I utilized the property as a short-term rental on Airbnb.

Many of our first time investors utilize seller financing because it requires minimal downpayment for each investment property.

The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC)  must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016, the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

Why I Believe Striving to Build Passive Income is OverratedThis may seem like a disingenuous statement coming from a passive income guy, BUT, I believe that those looking to build sustainable look term wealth would be better off to downplay passive income.Passive income has a role, a large role, but one best utilized when a certain level of wealth has been achieved, and the holder of said wealth is looking to preserve capital and live off the income generated by passive investments.I hear many relatively new real estate investors say that their goal is to acquire enough real property to replace their earned (W-2 or 1099 or Sch C) income with the income be generated by their investments.  

Should I be trying to buy a 3 or 4 plex to start or would utilizing a good chunk of equity and looking for a much larger investment like a 15+ unit be better?