Then, once you have a couple of cash-flowing properties under your belt, sell your house, and use the profits to move into something bigger. 

@Steven DarrowHave you considered looking in the Rust Belt?

@Dean Letfus We have found a couple of smaller banks in the rust belt who have offered 5.5%, but have not proceeded with it as we can pull money from our corporate line of credit here in Canada at 3.5 - 4% and simply pay cash for the asset.

@Paul B.I have a degree in Electrical Engineering and I am also a Six Sigma Master Black Belt.

You can think of these things after you have a lot more assets and income under your belt. 

I was so close to making it through the winter without having to buy a snow blower 😂 but looks like were supposed to get 6 inches tomorrow and possibly 5-8 on Friday.

When it comes to repair estimates the best way to know what things cost is to either get some rehabs under your belt OR bring a contractor with you to walk the property. 

.- several electric space heaters- mobile AC units- a couple carpet blower fans- a couple high capacity dehumidifiers- an electric submersible pump with hose in a bin ready to go- a puddle sucker pump- a shop vac to suck up water and a big squeegeeI have not yet had the need for a generator.

Unless you're an experienced investor with a few properties under your belt I'd stay clear of balloons, ARMs, and HML unless absolutely necessary. 

It could very likely have a cracked heat exchanger, which could be deadly; If the blower and controls are original, they could certainly fail at any time; and, depending on fuel source it is likely VERY inefficient compared to new models.