Your success depends strongly on your ability to understand construction, local market forces, contractor culture, financials, and your ability to evaluate the physical conditions of properties.

the tenants were on the upper level so not much impact to them.

The credit score impact may only be 20 or 30 points for having a high HELOC balance (say greater than 40% credit utilization).

There is more fraud, theft/rustling, poor husbandry, liars and cheats, and other issues than you'd imagine in such a culturally important industry.

The exit cap has a huge impact on projections. 

Obviously you want it as low as possible but outdoor air and occupancy will have an impact and there is mold everywhere. 

I wonder how much that update alone will impact everything. 

At first glance, it seems obvious to consider Canada because of the proximity and common rule of law, language and culture (to a certain extent).

also what would you pick for matress (impacts reviews etc) : firm , or middle of the road?

@Justin ThorpeI concur that i think the full impact of COVID will be felt in the next 6-9 months...What surprised me is that all these lowly-priced units popping up from nowhere in the last 4-6 weeks....