Mortgage created to individual owner of LLC as mortgagee.

I could finance either property by not touching my current mortgage, using only my savings for down payment,  or I could refinance my current property and purchase 108k property outright.

I've got a quandary that I'm stressing out over... rent or sell our townhome after moving to a new house.I've been excited to move to a house and have my first rental, but as I'm assessing the numbers/other factors I don't know if it's right for a rental.The mortgage on the townhome is $1400/month with $150 HOA.

Unlike south of the 49th, privacy laws here do not make lists of property owners (in mortgage default, probate, etc) readily available;Market size - The entire Canadian market is 1/10 the size of the U.S.A. housing market.  

Great area - here are my numbers: Monthly Annual Purchase Price 168,500   Monthly Rent 2200 Cash to Close (20% + $4k close costs) 33,700   Annual Rent 26400                 Property Tax $375 $4,500     Insurance 100 1200     Mortgage 835 10020     Vacancy (5%) 110 1320     Repairs (5%) 110 1320             Total Expenses $1,530 $18,360   Net Income $670 $8,040   Net Income without Mortgage $1,505 $18,060       Cap Rate 5%       Cash on Cash 24%    

I bought it when the market was down and so were the interest rates (3.125% on 30 year mortgage!).  

My only current debt is the mortgage on my condo and two small car payments.The local market is so inflated I'm not sure if I would be able to make any profit here.  

Considering the cost of the mortgage, insurance, taxes, and monthly maintenance, which place brings in more cash?

Yesterday was our mortgage contingency date and the lender says he just submitted our file to U/W and our lawyer requested a 7 day extension.I’ve provided every document asked for quickly and clearly labeled.

If there has not been a sale then the property does not yet belong to the mortgage company as an REO nor has it been sold to a 3rd party at auction.