I have some of the down payment, could I get a conventional loan to cover rest of the down payment costs and then get my commercial loan?

@Tiffany RalstonWow, this sounds like a great opportunity to get into a deal you might not be able to do on your own...Whenever dealing with partners, I think that a partnership gone bad can ruin a great deal, so be sure to cover your bases on that end even after confirming this deal is  a good one.

I had been in talks with a rehabber in my area who uses hard money lenders to fund his projects and we were to be doing a fix and flip this month, so I went ahead and got myself a $10k loan to throw into the mix to cover carrying costs.

– monthly rent has to cover all expenses on the property 100% plus we usually charge extra 200-300 per month for the rent credit4) Does anyone know a good real estate lawyer in Calgary that may specialize in these?

@Matt Smith Hey Matt, A few items here: You can always offer the 80% of the listed priceThere is already meat on the beat, it is the $500 less than what you're paying right now, and YOU (no, sorry TENANT) is paying down your mortgageDuplexes are hard to come buy in your area [you found one of the unicorns-this is a sign lol] One item to watch is the number of rooms and bathrooms, which could increase your ongoing maintenance expenses, but you already have some capital set aside so you've got that covered too-you're rock n rollin!

How do I set up an LLC to cover my rentals?

Is it Possible to Use a HELOC to Cover the Down Payment on a Second Home?

After that we are covered 100% on top of the $300.

We had a first great meet-up today in Eden Prairie with Account Closed and one other gentleman to discuss our goals, needs, and next steps.We are doing it again next month.Hit me up if you'd like to join.No pitch, no cover - lunch and learns!

I cover the electricity (it's a 498sqft studio), and include parking, and the price becomes that much more attractive.