Hi Judy,I would use the eventual mortgage amount to calculate your future cash flow.The private money cost can be calculated into the 'holding cost' while you fix the place up.

on the West coast  Lawyers are not allowed in small claims court.. think Judge judy on TVits just you and the tenant mano o mano and if your well prepared and a tenant is well a tenant.you generally win hands down. 

@Judy P., Yup cranking the heat is a classic, I tried that one as well as pumping they system's PSI up to 27 lbs. 

@Judy P. - Here is how crazy this one is.

@Judy C.What exactly is the local economy in Ottawa?

Maybe not the first time or the second time but somewhere along the way my advice will be ignored and Someone is going to rent to their friends kid or Aunt Judy's step-son and when you refuse to cut them a break because XXXX and charge poor Cousin Leonard a late fee your name will be Mud at the next family reunion.

If they threaten to sue, they have no case unless you make it to Judge Judy then you get free advertisement haha.

@Judy P.I believe that is the best way to do it!

@Judie Collins I agree!

Landlord tenant court is more like Judge Judy than Law and Order.