If your investment horizon is short, be sure verify that your state's homestead laws and bankruptcy rules won't allow this co-owner to exempt this home from debt collection. 

At this point in the cycle, anything less than 10-year horizon is just stupid - that's one thing.

But there's more than one right way to do it depending on what your "unfair advantage" is (per @Brandon Turner) and your investing time horizon and your ideal day-to-day setup.

They do a lot of properties in Windsor Hills.Yann at Horizon Property Management.  

If you are purchasing a large property with a planned reno, refinance, and sale horizon you should run scenarios to make sure you can stay ahead. 

This life change will keep us disease free, healthy and never needing medications.So hopefully you can help us with a place to shop at as we rather cook our own meals than eat fast foods.I love Horizon Organic Heavy cream for my coffee, and real butter from grass fed cows.I make my own bread, do you have a mixer that kneads dough or bread pans?

Bigger Pockets has been an encouragement to expect to develop relationships with others involved in real estate.Something else I have loved about Bigger Pockets is that there seems to set new horizons that I didn’t know I could dream about.

Time horizon: long term or short term?

The US economy is doing better than the Canadian economy and the governor of the Bank of Canada recently made it clear that there are no interest rate hikes on the horizon so the Canadian dollar is most likely to depreciate than appreciate against the US dollar.

As Leo points out, with the leverage you have, at some level of price appreciation your investment will work out ok... but your time horizon needs to be 5-7 years of 2-3k/month if there's disruption in the market.