If in a year you expect to profit well at market rent I would keep it, if it is break even sell it while you can consider it still as your primary residence.

Any reason why you would not start a new traditional loan.

I am familiar with the Brrrr strategy however most often times people talk of buying with low or traditional down payment as opposed to buying the property and doing all the rehab with cash.Anyone have some examples of why you would or wouldn't want to do this?

I just did the same thing on my primary/vacation rental and we have a similar climate.  

I have done five deals so far using my own money or traditional financing. 

@Nathan PlatterMy {limited} understanding is that the Canadian RRSP does allow for certain non-traditional investments such as real estate and mortgage notes. 

Traditionally, there was a 2 person per bedroom rule. 

Seems out east in the upstate New York, Pennsylvania and Connecticut area there are alot of 4-6 plexs that I can purchase for $50-75k that need $75k worth of work but average apartment rents in the areas are 1k per unit per month when rented.I would like to find an investor that will lend me the $150k upfront so I can purchase and remodel the property and when fully rented get traditional funding for the property. 

So 1 of my referrals, who is a banker, is looking for a non traditional lender who can financed a borrower with a not-so-great credit scores. 

Traditionally Non-QM doesn't have any limits on the numbers of properties financed?