How best to formulate the deal that will give us sufficient time to find the new property in the current environment.

Given the current political climate, if you close on the deal, do you have sufficient reserves to carry the property if neither tenant pays rent?

It gets old and tired when you are constantly reading about the dreaded horror stories of Detroit - but, in the same token everyone wants to know 'where to get a good bargin'. 

Also https://www.uhyvictor.com/ and some other in Montreal I could provide if those are not sufficient.

Your basic insurance policy with $300,000 in liability coverage should be sufficient in 99.999% of all lawsuits.5.

Overall assuming you have enough equity to pull from your current property and it will be sufficient to cover the down payment for the next property then it is a good option to use a Heloc. 

Jenner:In our case, our U.S.A. investments were made at a time when the CAD was at/above par with the USD and interest rates were sufficiently lower in Canada that we simply borrowed funds from our {corporate} line of credit here at home. 

Should I add anything else, or is this sufficient?

Asking because we have a similar project we're working on, and I think an [induction] cooktop alone might actually be sufficient, especially with the availability of big toaster ovens that serve perfectly well as a small oven.

It can be a sufficiently good investment, just letting you live there for "free" with nominal extra income, while your REAL money is looking for the best cash flow you can get with 20% down on ANOTHER investment multi!