Obviously this is way below market, surprisingly there are a lot of below market rents out there. 4 months before the lease expired I informed the tenant in writing that the new rent if they chose to renew would be $750, a $200 a month increase. 

If you go this direction, all your money saved up went to a downpayment and you have no cash reserves for repairs, vacancies, and capital expenses. 

I'm not currently under contract.

I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently.

I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently.

I am going to have my tenant pay rent online directly into my new checking account.

YoY is down 5.5%.Rentals - Median Time to RentMedian time to rent continued to fall, now below 20 days, showing a heating up rental market.

  $50k on $250k is possible.The deal above in your backyard is $70k on $90 (before pushing for below list price). 

Most struggle with choosing a direction. 

I currently go to school in Montreal so the market doesn't really interest me there for what i could paywhen I say I can get the all the money its just that it's not like I need for my potential partner to chip in but I just think that he should chip in, at least a little bit so that he would feel more "invested" in the project.