Ultimately, I plan to hold the property and know that initially the appreciation will not be a big deal.

Avoid any company with the initials NW...

I had to actually pay a bit more then the initial asking price which was 160k.

I had to actually pay a bit more then the initial asking price which was 160k.

Initially, I rented the bottom unit to my contractor who did the kitchen extension / renovation.

This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

So you cannot use that property as collateral for a loan. 2) Again, the house is not your name anymore so there are no depreciation benefits.3) From my understanding (and I'm not a tax guy so double check this with someone who is) is that your taxable income would be calculated based on the capital gains over and above your initial purchase/capital improvements and recaptured depreciation (for a SFR, the property, not land, depreciates 1/27.5th each year) but the amount you lend back would not be taxable until you receive that income.

Initially I wasn't really keen in renting to a family with dogs but since I do not have an option, I am thinking to proceed.

I also have some nice auto messages I use to do the initial "screen" to save my time from the tire kickers and the "is it still available" annoyers.

Also, sometimes properties that are relisted seem tainted somehow and sit despite having lots of interest initially.