On the flip side, I am in the process of acquiring over $1.5M in defaulted DSCR loans form borrowers who are your age that put 25% down but had no money to fix any of the problems  = lost the renters and walked from the property.

The owner is estimating that the Tax Map Key will be available in 10-24 months. 

Suggest you check out the EREIA group if you are in Edmonton. 

With this amount of cash and a mall that has a movie theater, you must be a minor LP in a much larger project.Usually there is a round of investing just to acquire the land.

The main thing is making sure your investments produce a return that outweighs the cost of the borrowed money.A full cash-out refinance could work down the line, but with rates where they are, you’d be trading a 6.25% ARM for something likely higher, now that it is not an owner-occupied property, which may not be worth it unless you really need the capital to scale.

That strategy wouldn't fly with just about every wife that exists now or in the history of the world

Contact the zoning department and see if you can get the property rezoned as a duplex.

The risks have increased.

Thanks for the replies. 

What you are trying to cover with the umbrella policy is the 'slip and falls', which can easily be a million dollars or more if you are found liable.