This allows you to qualify to the great products small credit unions have to offer. 

@Travis Walker - talk to a mortgage broker (like  @Andrew Postell - he is on this site quite a bit), and see if you can qualify for a long-term loan with your debt-to-income (DTI) ratio as it stands. 

So, now you can become part-owner of a building without you having to qualify for a mortgage yourself.and lastly, you can always get a job and be a W2 earner if #s1-3 are too much work for you :)Makes sense?

Multistory townhouses in non-elevator buildings are not considered ground floor dwelling units because the entire 8 dwelling unit is not on the floor that qualifies as a ground floor.

HiTo meet IRS requirements for a Real Estate Professional would the management of 5 different Property Managers qualify?

Originally posted by @Grace Perez:I am sure this gets asked all the time but I can't seem to find our situation in any posts. 

My understanding if you owned the home and sold, even if it was given to you, you aren't eligible.https://www.fin.gov.on.ca/en/bulletins/ltt/1_2008.htmlRequirements to qualify for the refundTo qualify for a refund: The purchaser must be at least 18 years old.The purchaser must occupy the home as their principal residence within nine months of the date of transfer.The purchaser cannot have ever owned an eligible home, or an interest in an eligible home, anywhere in the world, at any time.If the purchaser entered into an agreement of purchase and sale before December 14, 2007, the home must be a newly constructed home and the purchaser must be eligible for the Tarion New Home Warranty.If the purchaser has a spouse, the spouse cannot have owned an eligible home, or had any ownership interest in an eligible home, anywhere in the world, while he or she was the purchaser's spouse.

Your credit score does factor in, but your income is a larger part on what we are able to qualify you for. 

Furthermore, you may want to consider a qualified opportunity fund to defer the tax hit.

You're going to need some W2 income to get approved for the refinance so you'll need to get another so you can qualify for financing.