I think you have to get to property number 3 or 4 until the snow ball impact of the cash flow and equity is really felt, but even with one single family home it is there. 

Back in my day we paid $350 for 1 form as we walked to school barefooted, in the snow, uphill both ways!  

If I had bought the other house, the tenants would have mowed the lawn and removed snow, and I would have had to paint once or twice, which would have been away to add sweat equity. 

Years ago I did some work with SaskTel downtown and there use to be a pretty good Japanese restaurant just down the street (not something I expected in the middle of the prairie).Looking at what you have posted - and with the caveat that I do not know the market in Regina {property taxes must be low} - my first question is does your figure of $1445/month include: snow removal, lawn care, maintenance reserve (~10% EGR ... which is more like $5500/yr) and property management (say 7-8%)?  

Trying to time the market is like trying to figure out when it will snow in New York in 2019.

For example, you want to know if the seller has been doing snow removal for the past winter because one tenant broke his leg, even though snow removal was the tenants' sole responsibility.What issues, if any, have you had with the current and past tenants?

In other words I keep it at 10% until I have a property under contract.Lawn care/Snow removal (minimum of $50/m)Miscellaneous (5% minimum).

in my 36-lot park it’s:TaxInsuranceWater and sewerCommon area electricity TrashManagement R&MCap ExWebsite/Property management softwareTenants mow their own lawns and shovel their own snow.

If you self manage, failed to shovel snow, someone slips and falls, it's YOUR fault, not the LLC's fault.To top it off, he was sued for $3 million, and the insurance only covered the S Corp for one million, and ironically not him personally.

Exterior maintenance-lawn/snow and landscaping.  5.