But I've started reading a lot more than I used to and I heard about the BP podcasts from a friend and starting listening to them on my rides to work.

I don't know squat about Canadian mortgages, so take this with a grain of salt.If you write a contract stating that it's a $100k property and the seller is kicking back $20k towards you (as a credit, as a loan, or in some other fashion), that means the real sales price of the home is $80k and you're asking to be 100% financed with 0% down.

Both will make it easier to ride out the tough times in real estate.Some on this thread will do the whole math thing comparing interest rates etc. 

I guess I should start by introducing my self My name is Sergio I live in the awesome city of Phoenix, Az I came to the U.S 22 yrs ago from Colombia, I served honorably in the U.S Marines and I currently work in the oil and gas industry in the frozen state of ND, some of my hobbies are riding my motorcycle, hiking, shooting at the range, salsa, bachata, vallenato dancing.Like almost every one I was influenced by Robert Kiyosaki's Rich dad Poor dad a few years ago and that set in motion a desire to get out of the rat race, I started working in the oil industry to get out off debt as prescribed by Dave Ramsey now a few years in to my oil field career I've accomplished some financial goals and now ready to dive in to the real state world so I can work for my self "minding my business" (forgot who said that but good quote) I like to focus on buy and hold rental property the residual income is something that is appealing to me, I guess my goal is to eventually stop "working" and spend more time with family and donate more of my time and money to my friends organization helping disable kids and under privilege families in Colombia.I hope this was a proper intro and it wasn't too long looking forward to one day being on the Bigger pockets podcast with Josh and Brandon and having photograph taken with Robert Kiyosaki. 

This has been my plan for a while now, same price as white and looks less old fashioned.  

@Christian Wathne based on a conventional cash out, your best bet is to ride out the 6 month time frame, and then close at 75% of the appraised value on a cash out.

It doesn't take into account the condition of the property in the least, can get updated in a rather haphazard fashion, and really just tells you if the current owner is current on taxes!  

The guy was a licensed Civil Engineer ,  he can over ride a building inspector .   

But make no mistake: we're in for a rough ride. 

I hope to be working in downtown Denver and would love to be able to hop on a train or ride a bike to work.Long term investment.