Have to have some major issues all the time to hit those numbers...Let me know how this goes/went.

This is a major hit, because not only is your income subject to being taxed as normal income, but you may also be subject to an additional 15.3% self-employment tax.

I deal in the 3 major cities: Toronto, Richmond Hill and North York.

Aurora Services for Lehman, and still does the majority of their npn portfolio.

., and you found an apartment for $600k with 11,000 sq. ft of rentable space, that warrants further investigation, i.e. cap rate calculation, DSCR, & ROI just to name the major ones.Bottom line when looking at cap rates, here is a standard formula I use initially: Take current gross rents, less current vacancy, arrive at AGI (adjusted gross income.

Things like closing costs, utlity expenses, mortgage interest probably needed to be taken in the year they were spent so there was major kinks to be worked out in 2007.

Doesn't mean it happens 100% of the time, but like I said, the overwhelming majority will do it.

Going around with a realtor, looking on the web....is a major waste of time.

It is great that your folks are going to help finance you and your endeavors, and I hope you become a major success!

The vast majority of lease-option buyers never buy the property.2.