Just got a promotion so more money, but sticker shock in new neigbhorhood. 

Another problem you can run into is that you can encounter (more) problems trying to evict this person for non-compliance of the lease rules before the term is up if they've paid for the full term. 

@Nathan Killebrew what your pops is telling you is only one of several reality checks BRRR investors with aspirations to truly scale encounter. 

You will find that refinancing may actually be easier here in Canada as there are not the same wait periods you frequently encounter in the U.S.A.  ... we've refinanced properties in as little as 45-days after purchase. 

If it's just the sticker price of the property, move on.

I'm writing this post to shed some light on a problem I keep encountering with aspiring investors who are new to real estate.They read a book or two, hop on BiggerPockets and learn about a few ways to analyze a potential deal, and somewhere along the way they form a "Golden Number" that all future deals must have to be worth considering. 

Has anyone here dealt with rehabbing a property after being damaged by a fire, and if so, what are some major or unexpected costs that you encountered during the rehab?

I encounter a lot of people like this.

If the unit is in a desirable location, you might be inclined to list it on Airbnb, but you could encounter restrictions through the HOA, so it helps to know this ahead of time.

I recently acquired a property where I encountered the same situation on 2 different units.