From a cashflow standpoint, it's very difficult to make something happen unless you significantly leverage an under-used property (example: adding a unit in a building in a basement, renting parking/storage space, etc.)) and/or purchase a fairly undesirable property and invest quite a bit to bring it up to snuff.That being said, there's certainly something to be said for living cheaper and getting an opportunity to learn the trade.If you think about it from the standpoint of price per door, owning a small plex (2-3 units) can still be interesting.Example (desirable neighborhoods excluding DT, Verdun, Saint-Henri Plateau and Villeray)2 br condo = +/-350k Cost per door: 350kDuplex = +/- 550k Cost per door: 275kTriplex = +/- 650k Cost per door: 217kBecause the bank will take into account the lease when looking at your ability to pay, you can apply for a larger mortgage with a plex and the cost per door comparatively goes down.

Ask them what their current lot rent is and what else is included/excluded?

If you lived there less than 2 years, say only 1 year, normally you cannot exclude anything.

I would assume another agent would companies covering a townhouse, and excluding the roof anyway.Also, a second home probably has a higher rate since it supposedly would be vacant most of the time, which is a higher risk.

I'm used to calculating the net rentable sqft of storage properties and I always exclude outside parking in NRSF. 

In a reviewed decision, the Tax Court has held that taxpayers, who voluntarily demolished and constructed a new house on their property in order to enlarge and remodel their home, couldn't exclude the gain on the sale of the new house under the Code Sec. 121 exclusion for the sale of a principal residence.

Sewer and Drain Backup is typically excluded from all dwelling policies, but can often be purchased separately through an endorsement.

I think it's around 60% for the rest of the nation, excluding Vegas and Orlando.

I run it through my calculator/xls to determine KPI for me which is COC%, minimum monthly cashflow, and total return excluding apprecation of >=20% annually.How did this duplex fair?

Meanwhile rent out the last house, prepare to sell it to get favorable capital gains treatment after year 5 (owner occupied 2 out of 5 year gains are excluded).