Purchase Price: $380kTaxes/Insurance: $9,300 yearly (estimated)Downpayment: Up to $100kMy vision for the next 1-2 years is to live in the house and use the MIL suite income to pay most of the mortgage while saving enough for another down payment on another home that would become our primary residence.

Our monthly payment with putting 5% down will be $6,700.

However, they pretty much even out in terms of total mortgage payment vs rent. 

So, our mortgage payments are combined for both houses.

They are trying to tell me they can just keep extending (under the escrow claus- no escrow was opened) Q- Lawyer said no payment by closing date contract over, we are free to re-list property- realtor has complaint and can’t re-list till she hears from the RE Commission, on there decision on the complaint, how? 

In order to not have to put any of our own money into this deal, we intend to leverage the equity of my Grandma’s home as a down payment for the loan.  2) Should we leverage a construction loan or some other form of financing? 

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Larry, If I’m following your math, you need to find a way to increase your income outside of the rental property to cover the mortgage+heloc $1500 payment.

He does not handle evictions themselves, just the collections.It's been nice to cut him loose on deadbeat tenants, and get back payments over time for judgements against them.

Guarenteed payments on the 1st, keeping up with market rates and mutual interest between the tenant and landlord to keep the property in good condition and to keep the tenant living there.