I think you should also confirm to them what lease renewal terms you are offering them so they can make an informed decision.If you make the repairs, you'll create some goodwill with the tenant and they will be more likely to renew.

Thanks for this information on Canadian Trust companies that will administer private mortgages in TFSA / RRSP!

You can check my profile for access to more information. 

I informed the seller that because of the overlay, the property may be 2 build eligible in-spite its small lot size.

Either way it sounds like you have your information.

You state that you have 20% - 25% equity position for safety, but you don't based on the information you gave. 

@Stacey OlsonRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

Feel free to DM me for the information.

I informed the seller that because of the overlay, the property may be 2 build eligible in-spite its small lot size.

You might be able to go this route if your lease says something to that effect.Without lease support, you can write them a letter informing them they are in violation of the terms of their lease due to the lack of proof of insurance.