Finally.

I’ve been thinking about getting into real estate investing for years now and finally feel like I am at a good place financially to start making moves.

After a week or so of looking through the other threads I finally found the Canadian forum.

Quote from @Jimmy Wellman: I've looked online for some information about the average % of the final home price vs. the price you purchase the home for and found that the home should be purchased for 70% of your home's final sale price. 

I finally got an attorney to work without a retainer2.

@Jonathan Greene, can you tell me one of the more notable times this happened and how it finally resolved?

Finally- you can eliminate 95% of the troubles and risk by simply having professional and legal screening and management processes, so don't sleep on that piece. 

-Initial basement costs were projected at $60K, final costs were $125K.

The experience of the housing provider is going to be the real challenge to getting you a set of keys to move in with...they have to qualify, pass inspection, sign a bunch of paperwork, and finally lease up and send everything into LMH. 

My worry is that while I am clear on the risks (extended timeline to get a tenant in, and expensive buildout) that I am not being nearly conservative enough - do I risk this thing sitting empty for a year, or years, and finally renting well below my implied rate?