This is a powerful step toward loss mitigation in a sharp market correction.

Although some would be more than willing to take the risk the primary goal of screening is to mitigate risk not to give applicants a "chance" in life.

First thing first, you need to read the Ontario Residential Tenancies Act (RTA) and understand all of the ways that the government of Ontario has designed for tenants to totally destroy your retirement funds, then come up with a game plan to mitigate all of those risks and be prepared to act fast and heavy-handed in case anybody stops paying or messes up your property.

- Bad experiences with inspections in Jersey City, New York City or just in generalWe are first time home-buyers and therefore just try to mitigate as many mistakes as possible, especially the big ones!

Also knowing that they can lend up to 80% (just using as an example) doesn't mean I need to finance that much so the points and fees they would charge and interest would be somewhat mitigated if I financed a smaller share of the purchase.As far as the house hacking situation, I would love a 2 to 4 unit property.

I like the vacancy mitigation, the income approach vs comp approach to valuing the properties, and what I hope are some economies of scale in the expenses.  

My recommendation with respect to the roof drains have already been noted above (drain to street had cracked but mitigated this by attached gutter extensions)4.

Your costs to mitigate the damage rises ever day.

Your job as an investor is to mitigate risk and that doesn't happen by limiting your exits as you mentioned.  

Don't shoot yourself in the foot, you just need to take mitigated risk.