They'll look at condition of the building, value relative to other similar properties and strength of the local market.

I would feel uncomfortable renting to someone closely related to the previous owner that has no recent history of paying rent.

For context, I've given him leeway in several other areas relating to HOA policies since he is new (i.e. contractors started demo/ construction prior to the quiet hours noted in our CC&R's several times during the weekend.

3) In relation to minimum wage, what is your suggestion on the pay scale?

Related to tax assessor records,  the tax assessor only sees the sales price if the buyer reports it,  or if they have MLS access.  

It will take a little while I imagine but having a 4hr travel time is a good measure to have as well, so if you are ever needed, you can make the trip out there relatively quickly.I'm also debating if I should buy in cash or try to get a mortgage, which is harder to get for Canadians, so I've got a few doors to knock on still but it's encouraging to see people making out of state investments so often now.

I also began listening to the BP podcasts, reading BP articles, forums, and various real estate related books.

There has to be a way to track expenses that are business related and deductible but not attributed to a specific property, isn't there?

Would you recommend any relators or property managers in the area for first time buyers such as myself?

My relative gives me 10k for 50% equity.