There is a Delayed Financing, up to 6 months I believe. 203k is for acquisition, a reverse mortgage has crazy fees and think you have be 62 or over.

Because we bought already renovated building the time it takes to manage them are minimal.

The downside is you may be in a high (or higher) income tax bracket in retirement, so you will be paying lots of tax on your withdrawalsIf you earn a modest salary now or have a business which carries some of your living expenses (i.e. vehicle) - or have rental properties in your own name which are not producing huge cash-flow {yet} - but expect to have larger income/assets in retirement, then a {Self Directed} TFSA may be a better fit.While I have both, at the moment I keep most of may capital in my companies and only draw a minimal salary.

This tenant hasn't been perfect, minimal problems but always got payed.

This tenant hasn't been perfect, minimal problems but always got payed.

The upside is:you can pay it down at anytime w/o penalty.Many HELoC's are interest only payments, some have a minimal annual principal repayment requirement.

I just include it in the price of the unit (slightly higher since I pay utilities), installed low-flow shower heads and dual-flush toilet handles, and told the tenants minimizing unnecessary usage helps keep the rents from going up..

I'd use a delayed sale before an option, but that's not saying I would never do an option as I have and would.In fairness, the option is more popular especially with investors as they are probably better understood and a sale contract may have more points to negotiate and construct.

I've bought several houses in downtown NN and Norfolk for 10k to 25k range and they rent for 700-900/mo pretty easily and some require minimal repair.

But FedEx has posted on their site that shipments to the Midwest may be delayed because of winter storms and have stated they will not back their delivery guarantee because of it.That stated, does this tenant check with you monthly to see if you received payment or is this the first time?