But in this case, since you're buying from your mom and you can include in that contract and deed explicit permission for a wrap, it's not a big deal.However, anyone who's going to buy a $40,000 house isn't going to be able to afford $700 per month, and if they can afford it, they can likely go to a bank and get a traditional loan.

Kinda reminds me of the ole Mike Ferry Days whence when someone asked a RE Pro how biz was they would always reply F A N T A S T I C!!!

well sometimes we have short memeories or your young enough to just be getting starting in RE business.2 things happened in phX that tanked those values.. 1. politics kicking the illegals out.2. building stopped tenants leftMuch of this housing was and is hispanics they were fleeing back to mexico for political reasons and because new contruction stopped loss of job was huge.so you had 4 plex's go vacant or only have one or 2 tenants.And of course the dreaded turn over which always cost money along with under capitalized owners in many cases could not afford negative cash flow along with turn over expenses led to a melt down.things have rebounded... same thing happned in Vegas with the 4 plex's there.

You need at least one layer of protection between you(r personal possessions and assets) and your business entity structure (translation: more than one entity)If your businesses are properly established and maintained they WILL afford you considerable (though not "perfect") protection against even the most frivolous of lawsuits.

If it is your first residence in Alberta you can of course get in with very little down and with current low interest rates its very affordable. 

Originally posted by @Linval T.

If you cannot afford to lose the money I would not suggest purchasing.

Originally posted by @Joseph Weisenbloom:@Shamim T.

Originally posted by @Linval T.

We got started in this demographic because primaries were what we could afford/finance.