Thanks Brandon.I read both posts and some related ones too.It is really, really comforting and encouraging to know I am not the only one feeling overwhelmed and helpless.Most of the time I just wish I could find a partner who share the same goal or I could have mentor give me some guidance.Thanks Will.That's my worries...I'm not sure if it's legal in BC and the ways to find buyers and sellers are quite different..

State approved real estate schools, college real estate classes, at first, stay awat from guru crap until you understand the basics and legal issues, find out what financing requirements are in your area.

You may find that you have " squatters"- not legal tenants, low rents-or real reasonable people glad to pay more for better services.

Interest only with 6 months pre-paid upfront. $50,000 Balloon payment due in 18 months.

I have a legal background and have quite a few practicing lawyer friends - that portion of my "team" so to speak is great.

It has been legal since the 1980's.

You've heard it before, but let me remind you-- if you buy a house that has had a conversion- make SURE it's a legal conversion with permits on record.

How is this legal?

Not much, but thanks to the posts here, I stopped making projections and started figuring out what actually needed to be done to be legal when asking other people for their money.

Obviously, I'm not a lawyer and am not giving any legal advice.