With current interest rates, and they are at least 1% higher with potentially additional points for non owner occupied property, it is hard to find properties that will allow for positive cash flow after paying the mortgage, if you are looking for money for the down payment from a private lender, those are normally at higher than market and I am not sure it would be possible to pay it off.... please remember you need to take into account that you may not have a tenant for a certain amount of time, a tenant may stop paying rent, or you will have a big ticket item to fix, so I would wait if I were you and save to have enough for the down payment and closing costs and perhaps some money set aside for repairs. you also want to make sure that you have your own emergency fund outside of the money needed for the investment property because life happens ....

You pay for the basement reno out of pocket and cash out immediately...instead of waiting for 6-12 months

Thanks for readingDavid I would not buy anything right now, I would wait a year or so and see where prices are headed.

I am waiting to see where this market is headed, as I know a lot of people are sitting on the fence right now. 

They have to buy data, wait to recieve it, process it and then upload it all at the same time via an update.

There is a guy near me with 6 small houses he rents , he has a waiting list .

- In our opinion/experience, it's important for an OOS investor to understand the "lay of the land".

They are happier with a rate that allows me to utilize their money non stop than 1 larger payout and then sitting on the sidelines waiting for another deal with enough spread to pay that again.

I guess I will just wait to see what umbrella quotes my broker can get. 

I don't want to wait another 6 months to get more property through conventional.