Transitioning to newer product is a great step in rebalancing the portfolio and reducing liability on cap ex issues.

More control over expenses, including what would've been a cap ex in MFH becoming a NNN expense that tenant's cover, or at least a percentage of them if leases are properly structured.

You're lucky to make 100 per door in Lethbridge once you factor in maintenance, appliances and cap ex. 

This is how we pay our property taxes after all - Ex. 

Are you factoring in soft expenses such as vacancy and cap ex which do not happen on a consistent basis but for which you may be budgeting.

There was a hiccup when we discovered the seller's ex-wife still had a claim on the property and wasn’t willing to cooperate at first.

Also keep in mind your going to be ready for round two of cap ex in the coming years probably 10 to 30k per house .. 

He uses as a rental but his ex-wife (now girlfriend) is the tenant so he has fixed it up for her and it should be move-in ready.

Think of it this way if it would’ve taken you 4 months to fill it, your ex-tenant most definitely wouldn’t agree to pay an additional month, would they??  

If the rents were cheaper I could see cap/ex taking up too large a percent of rents and killing the numbers pretty quickly.