They need analyze  the property, the deal structure, and the sponsor. 

Which means, if you’ve structured your taxes as losses for the last two years odds of qualifying are slim.

If they are legit and you don’t have any other offers then I’d have the conversation with them but I’d want a higher than normal down payment (ideally 50% or at least more than the normal 20%), a higher than normal interest rate (at least a point above the prevailing rate so like 9-10% right now, but you can structure it as interest-only payments so their monthly payment is still lower than conventional), amortized over 30 but with a balloon in 3-5 years, something like that.

Quote from @Jack Krusinski: When my rental properties are in a situation like this, I make an effort to create a structured and aggressive payment plan to help tenants catch up.

Giving is not charity, it's a sentence.

They can guide you on tax advantages, asset protection, and multi-state strategies.A HELOC is a smart way to leverage your equity—ensure your financing structure aligns with your long-term goals.Since you plan to add multiple properties annually, consider setting up bookkeeping and financial tracking systems early to streamline your operations.Best of luck with your BRRRR journey—it sounds like you’re off to a strong start!

@Scott Ray the way you have structured the investment eliminates double taxation situation, but as as a Canadian resident you are required to report the income here in Canada.

This is part of my loan process - a discovery and strategy session with the client to understand their scenario, future plans, and overall situation so I can structure the loan to fit into it. 

It drives me nuts when everyone quotes a five-page post just to address one sentence, then the next person quotes both, then the next person quotes all three, etc.

My longest-term MTR guest's first sentence to me ever was "How many TVs are there?"