Not shockingly, this happened when interest rates hiked up.

I was able to secure an introductory HELOC rate of 2.99% for the first 12 months in Jan 2023. 

Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.

Interest rates go up 2% points.Labor costsRaw material costsInflationPlan B.  

Charge the tenants a higher rent rate and include utilities with their rent.

Hey everyone! I recently purchased my first property which happened to be a commercial property that has, among other things, a 2 bay automotive repair shop/inspection station. The current tenant has been there for ma...

Appreciation - Will Multi Fam appreciate at a similar rate to SFH in your area?

if not... i'd say stay local to Canada 'cash flow' is very, very tough right now with interest rates and prices both high

I personally want to use this strategy to lock in a lower interest rate on a rental property (being 20 years old with a small amount of credit history). 

For example, cleaning fees will now need to be included in the nightly rate shown to travelers.