Be sure to hold a hefty reserve to handle on-going maintenance, capex, taxes, and insurance.

My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.

Go after attorney's insurance. 

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

Just remember if you want to purchase another one you will need to refinance at an 80% LTV as you can only have one CMHC insured mortgage. 

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

The units are all currently occupied right now, so we won't have to worry about the buyer's market right now haha.With the cash flow I will receive, it will be enough to take care of property taxes, insurance, and enough to save up for any emergiences with the unit that I will need to take care of, so no need to worry, I got you :)!

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

Rentals boil down to how much do you net after paying principle, interest, taxes, insurance, and a maintenance reserve.  

The Homeowners Insurance will include Builder's Risk.