I write an article each year on tax returns and what you should be claiming and what lenders will ADD BACK to help you qualify.  

Call Cash buyers and qualify them.

Hi Marcus, Your income may be enough to qualify. 

While these properties look attractive on paper, tenant nonperformance and maintenance costs can quickly wipe out cashflow.Many investors think Section 8 is the cure-all for these challenges - failing to realize that S8 comes with it's own challenges - what QUALITY of tenants qualify for government handouts?

Purchase price: $485,000 Cash invested: $10,000 High Visibility Corner Retail Location. 3800 sq ft, 2 story building.Potential NOI valuation (after repairs, finishing) = $1.4MDue Diligence happening now, seeking Qualified Cash Buyer

For those not in Canada, the stress tests means you need to qualify for a mortgage at a much higher rate than the current rates in case rates do go up because as Dan mentioned, our mortgages come up for renewal multiple times. 

They will allow your mortgage payment and any personal debt payments (credit cards, cars, etc) to reach about 45% of your monthly income.Programs vary all over the place so it's best to ask a mortgage broker which programs you qualify for.They like two years on the job, rent paid on time, no liens or judgments, pay stubs, tax returns and so on.FHA has a 3.5% down program plus closing costs.

Seller Financing deals can be a good way for an investor to do a deal even though s/he does not yet qualify for the next mortgage.

If the qualifying criteria and equity are there, you can roll in your closing costs.

If you rented it before living in it you’ll pro-rate the gain as well on non-qualified time it was rented.