Together we make about 120k-ish and as were doing this, were actively paying down our credit card debt which together is about 20k at the moment, just fyi.I feel like this is a solid plan, but I'm not too big headed to admit that I don't know everything.

This sounds very intriguing. 

What made you interested in investing in this type of deal?

I would be curious to hear people's feedback on this.

Considering that my parents and I are not Canadian citizens it adds an additional wrinkle to things as they or I are not able to claim this as the primary residence and avoid the capitol gains tax... a lot to consider and think about.

@Matt Smith I think this narrative is way over blown.  

Plus, they can give you the lowdown on the whole process and help you every step of the way.You've got this!

As you say, it's not a win-win at this time, 100%.

The information contained in this post is not to be relied upon.

I don't understand this topic very well so looking for a connection to a good real estate focused CPA to help with my filing.LLC does not change your taxes, and it's even possible that cost segregation does not.