Even if I wanted another duplex, this still applies.

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

I would tell them once they contact the credit agencies and correct all the information, they are welcome to apply. 

That could be offset by having the deductions applied towards lower tax brackets. 

The question is will you benefit.If you already paid for the study, you might as well apply it to to the return.The next question is whether your accountant is properly applying it.You may want to consider working with a CPA who specializes in real estate taxation.

As Hai mentioned in BC there are a couple of extra things to factor in if your parents sell it to you-the capital gains, foreign buyer's tax AND the property transfer tax all apply in BC and the middle one is not cheap (an extra 15%). 

Germain Act and using a trust for subject-to approaches that may work for this kind of transfer, but I’m not sure it totally applies to my situation.The previous replies stated answers to your questions, but some of the answers may not have been clear. 1.

. - Phase 1 (October 1, 2021)Applied to new policies or existing policies that opted for early renewal under Risk Rating 2.0.- Phase 2 (April 1, 2022)Applied to all remaining existing policies, transitioning them to the Risk Rating 2.0 methodology upon renewal.The new system replaced the decades-old approach to calculating flood insurance premiums, aiming to provide fairer and more accurate rates based on individual property risk.Before Risk Rating 2.0, flood insurance premiums were mainly based on whether a property was inside or outside a designated flood zone and its elevation on a map. 

Here's what I did:Kitchens: Painted cabinets, updated hardware, added efficient appliances.Bathrooms: Installed modern fixtures, used neutral paint.Exterior: Applied fresh paint, improved siding, enhanced landscaping.Results: Property value rose by 100%What budget-friendly strategies have you used?

This is the structure we were looking at which is more of a subsidiary structure and this applies to raw land development: 📌 Structuring Plan1️⃣ Set up a QOF to raise capital from investors.2️⃣ Create a QOZB to handle hotel & parking development (each separate land parcels).3️⃣ QOF owns the land & funds QOZB for development.4️⃣ Raise capital through QOF equity, bank loans, or JV partners.5️⃣ Develop the projects & operate for 10+ years for tax-free gains.