North Hills is also exploding and going upscale. 

After talking to multiple local banks in the area and enjoying the sounds of heads exploding when I went over the situation, we finally found someone who knows what the hell he’s talking about, hopefully.Our new lending guy told us we can essentially sell the property from our LLC to us, use a Home Style loan with no seasoning required since its a sale, not a refinance and pay off the hard money loan in the process.  

If you were buying in a high demand area with exploding population and high incomes then the cap rate would be very low. 

Ottawa is a bit more cost prohibitive, however, as prices there have exploded over the past 4-5 years in particular.

When that lease expires, the value of your asset can go to zero, or the owner of the land can jack up the land rent to astronomical amounts, causing those coop fees to explode more.Theres a reason Riverplace units are as cheap as they are.

When your MAGI creeps (or explodes) past $150,000, you can no longer use your real estate losses to offset your ordinary income.

What happens if this explodes in a good way. 

My project cost seems to have exploded :(

It was 2010 and the C$ was at parity to the US$ and RE prices had collapsed in the sunbelt by 50-70%, which made US RE extremely affordable for Canadian investors My singular goal back then was to replace my annual salary with the equivalent in rental positive cash flowNot only have rents and appreciation exploded since then, but the US$ is over 30% more valuable compared to the C$ then it was back then.

That area is exploding so we will move the rent to $2000 after this lease.