However, this comes with the caveat that you and your husband are prepared to cover any potential increases in mortgage payments after the renewal, especially if the new rate is significantly higher than the current 3.5%, which I ignore since I am not versed in the mortgage system in Canada (although it does sound a bit like an adjustable rate mortgage from what you described).Before making a decision, I recommend speaking with a financial advisor or a mortgage broker to explore your refinancing options and get a sense of what rates you might be looking at come June.

Sounds like a great event! 

I was thinking in any case it would potentially expose me to that world while also making (not much, from the sounds of it haha!)

Trying to figure out which one is good, bad, incompetent or effective is nerve racking.

Hi Mehdi, It sounds like DSCR would be a great option if you are cash flowing well and want to scale.

You can find videos/articles online on how to get the basement dry, but the basic process is: 1) turn off all electric to the basement (to avoid electrocution from the water), 2) run pumps to get the standing water out of the basement (sounds like you're already doing this)3) remove all furniture and items from the basement,4) once you've pumped out the standing water from the basement, rent a wet/dry carpet cleaner/extractor from home depot, and use it to extract as much water as possible from the carpets (they'll be much lighter and easier to move once you get the water out). 5) After you've used the carpet extractor to get most of the water out of the carpet, remove all carpet and get it out of the house for drying (if you're trying to salvage the carpets), or throw the carpet out.

Sounds like you're ok with massively overpaying for a property. 

Sounds like it’s working for you!

And congrats on what sounds like an amazing find!

And they ALL effect underwriting as well.