Done right, they can easily add a lot of value to the property, but not if they cost far more than expected. 

(Not by using Google maps because they can easily be outdated pictures) There should be some.

You can have someone prepare your US return here and then have someone in Canada prepare that one.

Since its inception over 5 years ago, my overall rate of return has been 5%.... not that stellar.

Just remember to put yourself out there and tell people what you bring to the table because mentors will not just come knocking on your door willing to teach you, there has to be a reason or return for their teachings.

Some numbers for your perusal:Purchase price: 70kLand value plus shop 35kMoney this house could easily eat before all is said and done in fixing it $70KValue if we poured $70K into this house  $120-130K todayValue as-is  $55KRent the house could fetch if we dropped $5K into it  $800/moExisting mortgage $622/month pitiCould refinance to a piti of $500/monthI ran a scenario where, if I dropped $10k to stabilize the condition of the house and $25k to convert the garage to a studio apartment (rent for $300), it would be around 10 years before I could break even.Thanks for any advice or insight you can offer as you play the what-if game with me.

@Jose Jose, glad to hear you're thinking about this- water savings are an amazing way to increase your return.

Syndications are a way for folks to earn very attractive returns in an asset class like large apts that are hard to gain access to w/o experience, capital and connections.  

Its not as important what it costs over the life of the loan, whats important is the return on your 5% down and that its has a positive cashflow.

So let me decipher this, if i understand this, you have someone that wants to be an onsite manager but in return he wants some income, low rent on his apartment along with utilities and cable included ?