$71,000 in improvements for a $400 rent increase doesn't sound like a good deal to me.

Look at this as great practice and experience. 

I'm a realtor and investor and our country guy comes to the realtor association once a quarter and practically begs us to ask first. it's worth a thought.

That will enable you to acquire the property, improve it, refinance (pay off loans), and then keep that property.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

And of course while we waited life kept us busy, units turned over, and we wrapped up some final improvements to the property we didn't get to in the first round.

One part that struck me was about capital improvements and placing your property in service.

Disclaimer: While I’m an attorney licensed to practice in PA, I’m not your attorney.

Before we finalized the offer on the properties, we ran out a 3 year capital expense plan to account for improving the properties that need it, either with deferred repairs or value add improvements.

CMHC insures on the commercial side, a lot of times if you read their policies it sounds appealing but in practice doesn’t actually result that way.CMHC May offer 80% LTV on a residential building, but then when they qualify it, they value the building at a way lower price point than purchase and only lend 80% on that price point vs.