In Canada all you need is adequate insurance coverage anything more is just for show, unnecessary and costly.Even in the US for small investors it is a misconception that it actually adds any value or protection.

Then, it's a closer look at credit to justify the lack of an adequate cash flow.I once had an applicant, rather rough looking, that had about 20 beer cans in the back of the car.

But for the average Joe, we aren’t set to inherit tons of money from our family, we tried the stock market but we’ve ended up with average 7-8% returns, maybe some of us have great ideas, but we don’t have the connections and/or the network to adequately fund our business ventures.Raising money to purchase a home is relatively easy for the vast majority of people and in some cases can be shockingly affordable.

On a home that had been properly rehabbed, this should be a sound financial investment.Considering the fact that you are investing in real estate with unknowns - tenants, unforseen maintenance issues, insurance claims, etc - to me - a 4-5% return doesn't seem like an adequate return on my investment (risk vs reward).

If the breach is remediable by repairs, the payment of damages, or otherwise and the landlord adequately remedies the breach within five business days of receipt of the notice, the rental agreement shall not terminate by reason of the breach.

Once the days come closer and I get adequate feedback I will keep everyone posted about my journey.

It would not be wise to leverage in any situation, in my opinion, without adequate reserves for the unexpected, however.

The good thing is that once the gutting is done and the handful of flood claims are done (most people didn't have insurance or adequate coverage) prices will be back to normal because people without insurance don't have anyone willing to pay 5/10x the labor cost for them.We were lucky in that our HVAC units worked at the rentals so we've been running those and fans.  

Don't buy anymore RE until you have adequate reserves for your family and each rental property.Take my advice or leave it. 

Invariably your related experience will be adequate and your good outside income will definitely help as well.I am not too far away from you and I have financed car washes previously.