I tell prospective renters, "The sound travels very easily between levels.

@A Xiong I don't know your experience level, but based on the fact you asked about "how to find renters", I'd say your first move is the read a real estate investing book such as 'the book on managing rental properties' by Brandon Turner.

@Andrew Syrios you’re definitely right, it’s a higher deposit than that level of tenant would normally have to put down.

Unless these were bottom level college rentals.

A college level course like Columbia College is a good start.

Submit offers but put time and energy into situations where it's more likely to get accepted.

@Edlen Oira Toronto and the GTA can be really hard to find entry level income producing properties that cash flow well.

When you refinance, you might not increase cash flow if the value of the home increases significantly and thus the debt service increases to a level that would eat into overall cash flow. 

Smith -  It may come down to the occupancy level (owners vs renters) in your particular complex, and the state of the HOA (do they have healthy reserves).  

What are absorption levels for inventory in the immediate area?