Cash out: $55,000All money out plus roughly $3,500 in pocket.... principal and interest $767/monthCash flow estimated at roughly: $200/monthMy plan would be to refi around year 4 or so before the adjustable rate kicks in.

Its great that you have saved some money and have a desire but investing involves a risk of loss.

We plan to spend the next 6-12 months continuing to earn and save, as well as nail down a final market we want to househack in.

They all are if you ask them , its because they are getting your money .  

Most Canadians investing countryside seem to be moving their money into properties in MB, SK, or AB due to affordability and in AB's case the more landlord friendly laws.

I've seen too many that prey on newbies and set them loose on the world, begging for "no money down" deals. 

The money spent doesn't make sense vs the increased rent.

Tell them you are losing money and can't afford to let it continue.

With the hold periods on BRRRRs nowadays, your margins will get crushed with hard money interest payments/points/fees. 

Being able to purchase a property with only 5% down means you can leverage your money way more effectively.