Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

Paulette, please contact me as I have a TON of information and would love to talk with you about Cyrus.

That is how I have structured it so that I don’t have a ton of my own money into the deals.

I get a ton of questions like this from investors I work with.

You might find a local credit union or community bank that will go to 95 -100%.At one point I called 2 different VA Regional Loan Centers regarding this section in the VA lenders handbook:Assumability - The second mortgage should not restrict theVeteran’s ability to sell the property any more thanthe VA first mortgage.

The tenants pay all utilities including sewer and garbage. 

The purchase to cash flow ratio is much higher than majority of the states in the US but again not the only states.If you need any help or want to talk more REI feel free to reach out I have done a ton of business in both states and can walk you through pretty much anything.

There have been a ton of great responses here! 

It is pretty easy to keep it fully occupied but it does mean I turn away a ton of people who want a lease that doesn't quite fit my requirements. 

For further context, we are trying to have him be the name on the loan because he would be able to utilize his first time home buyer loan to take advantage of the lowered offered interest rate.