HI Gurus   I encountered a multifamily apartment deal which was built in 1954.

The same $100,000 spent on one house will bring in $850Rent/Purchase percentage better with cheaper houses.If someone trashes a cheap house, I clean up and move onIf someone trashes an expensive house I am sickI am a cheap house buyer So have you encountered any problems with all your cheap houses being in bad neighborhoods? 

I had to pass one home up earlier in the year due to a lack of available funds, so don't want to encounter this situation again.I feel like there must be a HELOC option somewhere for those with a higher # of rental properties, no?

I have never encountered a bank who loans in a market I'm investing in ask why I was investing there...other than is it a primary or investment property to establish the risk profile. 

However, I would contend that Ontario is central Canada, not East - there's another ~2000km of Canada east of Ontario ;-) Those 1%, 2%, xx% "rules" you read about here on BP are more correctly "rules of thumb" and can be useful to quickly triage a property when you encounter it.  

There is also a fair amount of entitlement that you may encounter as well.The well-maintained and managed properties with good tenants at market rent are almost never for sale. 

For first time investors one of the biggest problems they will encounter, and will often sink their investment, is a poor property manager.

Service people usually know about this flaw because they have encountered it during their work experience -- most tenants (in my experience) have no clue how easily vinyl flooring can be damaged in this manner.I would be tempted to leave the floor as is, then at tenant turnover, remove the vinyl and install tile. 

We've encountered non responsive leasing agents before.

All I want is a balanced market (probably asking too much) where there are some opportunities for fair deals as opposed to the current stupidity I am encountering daily in the trenches.