Oh, and did I mention they don't pay the LO any more than a vanilla loan AND take up 3x as much of the LO's time, as well as taking unusually long to close?

There are systems that would allow it but it’s unusual for a tenant to pay their water bill.

It is not unusual to have doubts especially being your first investment.  

This seems unusual.

He covers most everything I can ask to get started, but one of the questions I'm still a bit fuzzy/uncertain of is paying contractors for work when I'm 2,000 miles away from them.

this type of arrangement is unusual at best.  

Requirements vary widely, but generally you need:A property with in-place cash flow producing adequate debt service coverage ratio (net income divided by the loan payment, generally looking for 1.25+).Potentially, minimum trailing occupancy rates.Well thought-out financial projections / business plan.Enough relevant experience to give the lender comfort that you can successfully execute the business plan.A net worth equal to some percentage of the loan amount.  100% is not unusual, but varies by lender.Cash reserves that range from a certain number of months of debt service to percentages of the loan amount.Good credit and track record.

Your statements from the utility should show an unusual increase in usage beyond the norm and raise the rent accordingly?

., I'm not manufacturing dynamite in my basement).In my opinion, unless you are engaging in activities that attract unusually high sources of legal liability you should be able to acquire more than enough liability insurance to cover yourself at much less cost and effort than what it takes to establish proper entity vehicles. 

Diverse industries (construction, forestry, education etc.)I believe even the room for high appreciation is uncertain, it's safe to invest for cash flow here (especially BRRRR).Would love to hear your opinions on investing in Prince George / Northern BC, or successful stories ;)I am planning for a trip to Prince George, calling for all real estate professionals in town, lets have a chat!