Purchase price: $355,000 3 unit house hack with 2 separate buildings. 3 Bedroom/2 bath, 2 bedroom/2 bath, 1 bed/1 bath.

If the market continues to appreciate, holding the property could yield more long-term equity gains.

so just continuing to use him as an example.  

Hi Randall-Congratulations on buying a rental property well back in 2020.I am sorry to hear the property is now cashflow negative $200 a month.Your question is should you sell or continue to keep it with the negative cashflow.Depends on your personal goals and if being negative $200 a month plus any unexpected repairs or vacancies is affordable to you, but if you can solve the negative cashflow by turning the property into a furnished mid-term rental, for example, your future self may thank you.To Your Success!

(During this whole time I continue to market/show the unit.

Insurance is definitely an issue there, and will continue to be.

We also do a property orientation and show them how to operate the house, change filters and batteries, turn off water main - and of course the mystery of GFCI outlets

Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

However, it's fair to question the integrity of the management since it's in-house.

All major flippers in town have heavily compressed ARV to accommodate for the potential of the downward slide to continue.