Look at all your options and research what type of real estate investing is the best option for you.

There are a few different options/ methods (avoid the dry well in this case).

However, this comes with the caveat that you and your husband are prepared to cover any potential increases in mortgage payments after the renewal, especially if the new rate is significantly higher than the current 3.5%, which I ignore since I am not versed in the mortgage system in Canada (although it does sound a bit like an adjustable rate mortgage from what you described).Before making a decision, I recommend speaking with a financial advisor or a mortgage broker to explore your refinancing options and get a sense of what rates you might be looking at come June.

Some cons: no equity when you purchase, some times you will pay more than the property is worth, long waiting list, low inventory, and  lower cash flow.I tend to lean towards advising investors not to go the turnkey route but if you have access to a lot of capital and have very little time then turnkey is going to be your best option.

But nice to have options.

As I'm sure you've noticed the options, ideas, and opinions are endless! 

I do not recommend printing them from Canva since the binding is cheap and I wasn't pleased with the quality of that.I highly recommend having a digital option as well, so your property stands out.

Another option would be to hire some day laborers to help out.As I mentioned, the work doesn't require much technical skill (and there are probably lots of useful how-to articles and videos online), it just requires a lot of muscle and physical labor--it's a job where many hands make for lighter work.I'm in your area, so, after it's dried out, if you want me to come take a look and discuss the possible causes and solutions to prevent further flooding, dm me.

After I provide a true, unbiased reasonable response more likely than not I’m “attacked” for (1) being a “hater”. (2) having “it in” for wholesalers or subject to buyers or lease option advocates or land flippers, or….. (3) not “understanding” the strategy or tactic in question (4) being out of touch with the way real estate works today.  

Many investors get scammed by agents & turnkey providers selling them Class C properties as Class B.The Metro Detroit area offers a wide range of investing options - as long as you deal with the right people:)PM us for more info.