I got cold feet after the inspection revealed issues in the bottom unit including the 2 gas space heaters not functioning (going into winter), the flooring caving into a sinkhole in the kitchen without the ability to determine cause, and all the drains outside leading to the sewer were collapsed causing fear of flooding.

It's the #2 issue after inspections.

So I got one that was very in-budget, good in terms of cash flow, decent neighborhood, not too old, clean inspection, etc.

The cost of purchasing (lawyers fee, property purchase tax-does ON have one, inspection) and selling (lawyers fees, realtors' fees) and moving are not trivial. 

Totally rehabbed and renovated, the inspection report is clean.

@Jared Smith you could have this evaluated and have a chimney inspection done. 

FMLS after inspection negotiated $25k below offer price.

Quick one - Under contract on the first out of state rental (SFH - 3/1) - inspection early next week, having a friend go to it (he is a handyman) to walk with the inspector to give me honest feedback otherwise im flying up for it.Using second home mortgage for it with 20% down - Plan is to keep in my name and just get a big umbrella policyAnything else anyone suggests to make this go smoothlyProperty management company in placeThanks in advance

Clearly, I knew about this but did not know the extent of the problem, and I did not push to get bids before the inspection resolution was complete.

The first thought and question that comes to my mind is if you had an inspection before your purchase.