Typically though, you will be loan term of 6-36 months with an interest rate anywhere between 7%-18% and anywhere between 1-6 points at closing, though most commonly 2-4 points.  

(Toilets are a big one)- Deteriorating paint (lead is extremely common in cities like Rochester)- Breakers, furnace filter(s), water heater(s)- Damaged/broken stepsI think it is a little ridiculous to go around and nitpick with a checklist, but we do check for issues that would cost us money down the road, or are safety issues for our tenants (and properties).

I use any rental income to pay for utilities, business expenses pertaining to the house, etc.I plan to open a new bank account for the Philly house for expenses/income but can it be the bank I use here, or has to have a Philly location? 

We had a small fire in the common area of our association that caused damage to all six units.Some owners decided to take advantage of the situation and add on minor renovations to the repairs.The insurance company (Erie Insurance) recommended that we hire (Perfection Restoration).

Brian,I don't use a software, but basically you would show it as a tenant recapture income that is going to match the common area expense (or almost if there are some items being pro-rated over time).Lauren

That's give you the value.NOI = Capitalization Rate X Value, or, as the formula is more commonly known, "IRV."

I know a common answer is that I have to network, get out there, ask around, etc. but I am still confused on what information I am supposed to be trying to find out from these efforts.

Account ClosedYes, BC did announce some of their newer regulations - which included the so-called 'speculator levy' - prior to having the data to back the action ... call it "speculative governance" if you might.Now that data is being collected in BC and Ontario (ostensibly for Toronto and the Golden Horseshoe}, we are starting to get a better picture of just "who" the speculators are in those markets and it is seeming as though the "foreign contingent" is not as significant as initial presumed.On your recommendation to explore "Subject To"  deals, I should point out that very manner in which mortgage financing functions in Canada, makes "Subject To" deals less attractive and less common.  

But, this is the exact type of question I would refer to my escrow officer, regardless if I even had common knowledge. 

Your issue is very common & a rain diverter is the solution.