I like vacant because I can fill the place with people that "I" have screened on my leases.If the price unit's repair level and price works, I would buy it.

OTOH, if one of you puts up 100% of the cash and the other one manages the property (screens tenants, deals with issues, etc.) then I'd say the one doing the management should get the PM's fees (typically 10% of collected rent plus half a months rent to fill a vacancy) and the other should get all the cash flow.Partnerships are fraught with problems.

Screen like normal.

How would you screen someone, check their pulse?

I did not see your above post before the thread slipped from my screen (and mind).You can have a Self-Directed TFSA, just like you can have a Self-Directed RRSP.You can write private notes and mortgages in your self-directed RRSP - there are rules around the percentage of your holdings and the arms-length nature of the mortgage ... then there is the trouble of getting your plan holder to play along.My initial research on Self-directed TFSAs seems to indicate you should be able to do something similar.

Screen potential tenants well to try to avoid evictions.

Kyle check out The Ultimate Tenant Screening Guide, I haven't read through the entire thing but it may help answer your question.

Also, as far as your renters go…that depends on your screening process.

I will screen and place tenants personally for the first two years.So finances in abstract look like this

I will screen and place tenants personally for the first two years.So finances in abstract look like this. $45,000 in. (20/25k break down between purchase and rehab.)$1,100.00x12 = $13,200$13,200 - (3k tax, 3k maintenance, 1k landlords insurance, 1k misc expenses)$5,200 gross profit per year.