Starting a rental property already gives you a good foundation.

My philosophy at the beginning was to borrow as much as I can for as long as I can. 

Good day.

Dangerously misleading title of an otherwise good post."

That is a good point and something to take away.

Our mortgage agent suggested to buy as an investment and then refinance, but is not a good idea since we cannot take cash out (we don't have enough for the 25%).We thought of sending an offer contingent on one of the units being vacant, but the seller doesn't want to put that into written. 

Great to start with  house hacking but you can also do flips on the side in parallel if the deal looks good:)

Good deal, Next projects going to be even more profitable!)

Would not be bad to hold so that's a good option too.

I see a few challenges arising with this type of set-up.If for example, he/she doesn't do a good job or if you no longer need their services or if a conflict arises between landlord and manger.Is their a way to structure the managers pay without bumping in to challenges later on?