I just wanna make sure, the 10+ years lock-in period is making me a bit anxious.  

They're looking for a stable market that is gobbling up houses just after a slow period so they can still get good deals on land before it gets hot and popular again.  

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

The appreciation and annual rent increase could give a good IRR with a reasonable holding period. 

Once renewal period comes up (if they've been paying on time and causing no trouble) you can decide if you want to keep them or move on. 

I got news for him: the insurance companies are going to refuse to insure -- period -- or are going to charge premiums that would make Elon Musk wince.

For me rent is due on the 1st with a 5 day grace period.

I would be buying into a sellers market in almost any Albertan city.Alberta also worries me as it is known to be super volatile for short periods of time and then sit dormant for up to a decade. 

This prevents evictions for non-payment of rent or a lawsuit for collection of unpaid rent for an indefinite, unspecified period.

. - not recommended if you flip properties: no correct as in you are not even allowed to depreciate flipCost segregation accelerates depreciation by breaking down a property into components with shorter depreciation periods, significantly reducing taxable income in the early years.