Generally speaking I advise people to take on less debt as they get closer to their retirement age -- it reduces risk, and provides more cashflow -- often exactly what retirees or near-retirees are looking for. 

Assuming the property is not rural and the property can appraise for $150k, that will give you a max loan amount of $137,568 (If the property can debt cover with the $1250 monthly rental income. 

Also would come with the stress of a loan, and debt servicing.

If you're penciling it on, on your buy that's a bit optimistic and you'll have to likely understand your house value would then appreciate re-creating a re-finance loan with a new & higher tax basis and insurance which would likely not make it as affordable as you are penciling in.My best advice is to look to buy a value-add, something on the MLS for longer days or off-market.

Does anyone have any experience using oil and gas tax deductions (Intangible Drilling Costs: 100% tax deductible during the first year and tangible Drilling Costs: 100% tax deductible) to reduce tax liability against Roth conversions ?   

The owner gets to defer taxes on the second half of his capital gains. 

They will have a better idea as it isn't just how much you make, but how much debt you have and how much you've saved up for a down payment.Prices in Vancouver are extremely high, so I'd skip it. 

Well what I was thinking that I could do was look for a tax deed property in a decent area (closer to one of the colleges in town) and use my business credit to acquire the property and to renovate.

We have substantial closing costs on the sale, primarily transfer tax and realtors' commissions.

Look at property tax sales.