Or I just want to 'wear all the hats at once'....even though, rationally my brain tells me that would be silly, but in my heart, I think "maybe I could pull this look off".

So many of the areas I see in and around Toronto (and southern Ontario) are very expensive, and the rent-to-value rations are out of whack.

You WOULD think, if you had the information before AND if the homeowner was rational.

If I take rent of $1300 / .015 = $87,000 that means I getting price to rent ration of 1.5%So if I was all in at $87,000, 50% expenses+loan servicing =  cash flow of $70Hopefully ARV is 140,000 so I'm buying at 62% of ARV.

Jon, she is still there because I was trying to be nice and at the time thought that she was a rational human being.

Example: I closed mid month and got about 12k rent pro-ration towards the closing.

Make sure you cover things like title insurance, pro ration of taxes and rent, as well as the price and terms. 

When you start straying from it you also start rationalizing deals and will make a bad one.  

As a rational person, I just have a hard time understanding why someone would take time out of their lives to do such a thing. 

You should be able to count 75% of the other units rent as income when the loan office is figuring your DTI ration.