Avoid.The majority of the Mexican developers are honest and do a great job but people need to do a proper due diligence, including knowing who they're dealing with.

Quote from @Laura Morlock: I have an opportunity to purchase a very beautiful and unique property - striking century manor house directly on the river, 1.5 acres, huge detached garage/workshop, in a quaint little town 15 mins to two major cities and a little under an hour west of Toronto.I know the property inside and out, it's turnkey, and I would love to own it, but I don't know what to do with it.

I'm considering a major reno owner/occupied triplex in the Irish Channel, great walkability. 

One major lesson learned is that commercial financing is no where close to residential financing and that you need to give yourself a decent amount of time to line things up.

What your currently doing is similar to what we do on a majority of our units.  

Either way parking and laundry are major amenities and I would highlight that. 

There are also some exceptions to convince the underwriters to use leases if there were major repairs for that house/unit proving that the schedule E numbers are not showing the full potential return, then you would be able to use the leases as an exception. 

I'm not sure what the Inglewood market is like, but if it's anything like major cities in CA, I would anticipate that you can still get it rented out as an LTR.I would also look into the Midterm rental market in Inglewood.

 :)To anyone reading this: if you happen to think using other people's money means you don't need any of your own, raising outside money may help you recover your expenses, but you still have MAJOR out of pocket expenses, typically, due before you can raise any money:Earnest deposit: most people raise after you get control of a deal.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.