The 2008 timeframe was different and in situations a lot harder than now, but this market will shape a lot of investors that found their new market, product to focus on, and/or to dive in deeper when times get tough.   

Stunning property, and with a whole lot of elbow grease, it *could* post a bottom line. 

The interior will need to be repaired and repainted.I've done several 1900 - 1920's and while they usually have good bones, the electrical can be underpowered for today's needs, and the water lines can be corroded galvanized or even lead.

I just go in at the first of every month and code each line item to the corresponding property and note what the expense was for (Repair, HOA Fee, Mortgage payment, etc).

I would confirm by seeing the product then going out and checking comparables in that market that have sold. 

After only reading your subject line, I was curious why you were targeting Canadians.

Another possibility could be a home equity line of credit (HELOC), if you have sufficient equity in another propertyGood luck with your project!

Compare my bottom line to those who claim it's fine to invest where you get a $100 a month cash flow and sometimes actually even get rent. ;-) IMHO Thank you so much for your insight.

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

Most margin loans and SBLOC are Prime + or FFR +, and the ones Im familiar with are 8-13% right now.The only other thing I can think of is that if you're a HNW with a good relationship with your private banking team, maybe theyll give your a personal line based on your net worth and assets with them.