Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

I know there is no one right answer and some variable, but looking for ideas/advice. 

If the issues can be resolved, I will need to get another quote but this should give an idea of the CA FAIR.  

Real estate is and always will be a good idea because it allows you to create lasting generational wealth and leverage cold, hard, tangible assets!

Again, expand your mind and break your internal idea limitations!

Always good to get new ideas!

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.

Is buying a rental into a living trust a good idea?

How comfortable are you with the idea of trusting agents to lead showings versus allowing prospective tenants to tour properties on their own? 

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process.