******************************Current Loan Bal - $315kMortgage Pmt - $1344/mthProp Taxes - $840/mthInsurance estimate - $300/mthTotal estimated PITI = $2,483/mthHOA - $124/mthTotal Monthly Expense (not incl, Vac & Coll, Mgt, or Capex) - $2,607************Estimated Monthly Rental Income = $4,000 to $4,300Estimated Net Income - $1,393 to $1,693  ($4,000 - $2,607, etc)Annualized Net Income = $16,711 to $20,311***********Estimated Current Sales Price = $830,000Est sales cost of 6.5% (5% commissions + 1-1.5% other costs) = $53,950Est Sale Net Proceeds - $776,050Est Net Cash (after loan payoff) = $461,050 ($776k - $315k)******************************Est % ReturnsAs a Rentalbetween 3.62% to 4.41% ($16,711 net inc/$461k net cash from sale, etc)Again, this does NOT include vacancy, collections, management, or capex, etc.

Even if you did not add endorsements for service line or sewer system replacement if the damage is part of a covered peril it's possible your insurance will cover some or all of it.What were the communications at sale regarding the water problem?

Look into whether or not they can execute a sale with the next buyer, while there is an ongoing EM dispute with you.

How much is just fear mongering with the hope of influencing people to steer them to your line of product? 

Purchase price: $209,000 Cash invested: $28,000 Sale price: $880,000 This was the house I grew up in.

If purely residential, creative use strategies and layouts can really help boost yields and the resulting quality of the product.

@Rodeline Paul not as hard as you may think, but does take time to research a market.You can use Zillow info to map out cities or neighborhoods in a large city, and then look at the sales and rent data.Geographic patterns will emerge in the data:)

Developers and construction companies have adapted their strategies (Build for Rent), embracing innovation (light gauge steel construction) and diversification (new product types) to meet changing consumer needs and market demands.

As a contingency of sale we required this unit to be vacated.

As of about 5 years ago when I was inquiring, RBC US did provide US mortgages for Canadians however not a 30 year term, only ARM (Adjustable Rate Mortgages) which is a similar mortgage product to what Canadians are used to, difference being after a 5 year term it would flip to an adjustable rate mortgage.