I can think of a whole host of 'USPs' pertaining to WHY one might want to consider a 'lease option,' vs. simply because they have no other choice!

Your choice of areas to invest puts into a very expensive and competitive market, (Yes I am stater of the obvious).

Which is a better choice?

I got into investing as the guy who moved and had a choice to make.

I agree Investing in local market will definitely be a less risky and more manageable choice.

My thoughts on this is that it totally makes sense to make the improvements and go for the higher rent, but he is a very good renter and I know what to expect with him.I think if I get an answer to question number one, I should be able to calculate my ROI and answer number 2 myself.For major repairs it may be that you don't have a choice but to "back it into cost basis" as you say.

There is also a significant opportunity cost associated with not always being strategic with your time.Also, feel free to reach out to me directly.

Can you tell me about your property in Burnaby and why it was a good choice for you?

Still trying to find out a little more about the situation but would like some strategic advice on what could be done.

When you have a choice of paying the bank back now or later, take later.