We actually just had several go in on Livingston ave on the west side where I'd not normally think would be desirable, but they look great and really brought the block up.So I'm a huge fan personally from seeing them go up in my own area.  

I sometimes wonder if people just feel lazy dumping their money into an index fund in the stock market and actually using all that free time to go out and live life.

Selling multiple properties in a 1031 exchange to consolidate funds for one investment property is allowed, but the property must initially be used solely for investment.This post does not create a CPA-Client relationship.

I have been on New Western's deal list as well as another bigger local company and everytime I underwrite these deals there is very very minimal left on the bone let alone contingency funds for going over budget on the flip...

[I think someone else provided an example of this case earlier]-Now provided you do qualify for purchasing a house (4 units or less), you will have no problem qualifying for a mortgage with a Schedule 1 bank as long as you provide the down payment (35% minimum of purchase price) and confirm proof of fund and the source of it- On the proof and source of funds, the banks would want to see an income enough to cover the mortgage payment and other expenses. and in some cases, they would want to make sure they know how you're going to cover your expenses (housing, heating, etc..) where you live.This is usually where it gets annoying for some folks but if you can satisfy this, you should be able to qualify for a mortgage just likely any Canadian tax resident, albeit you will pay a little more in terms of interest rate, etc.

We have one other mobile home park and this property will determine my desire to buy more or sell.

If you'd ask this question while still employed I'd say apply the $8500 toward knocking down the debt quicker but since that is not the case I would build up your reserves to about 6 months then begin applying those funds to bring down the debt. 

Despite my explanation that I had the funding for smaller deals, 10-20 units they doubled down on me needing to find investors to partner with or to form a syndicate.

If you're considering hard money loans, they can provide fast funding, but with higher interest rates and shorter terms.

Then if/when another good deal comes up, you can approach a lender and look at leveraging either of the properties in order to fund the down payment of the new property.