. $1000 rent on a $180K property will never produce true positive cash flow.  

Investor spends money on real estate, expecting a positive return

In such a positive way lol !!

Then you just have to repeat the process 3 or 4 more times on 4plexs with positive cashflow.On the last property that you refinance take the refinanced money and throw 5500 per year in a TFSA  and use that to invest in some preferred shares of a company that declares dividends quarterly and earn an 8% return tax free if you invest from your TFSA.

Lakes, colleges, etc.Now everyone will have a different take, and mine may not even be the best but if I was in your position I would do these things.1.

The two things required for that are 1) enough distressed inventory to sustain it and 2) price ability that allows for positive cash flow on the properties.

Include tax returns and statements for any accounts you list as assets.If this is your only property then your basically showing your personal net worth and salary/income.For the specific property prepare a pro-forma income statement showing proposed new debt service for the property.Once you have the package ready just start calling small banks and credit unions in your local area and asking to speak to a commercial lender.

The way I see it is that MIRR accounts for IRR's two short-comings: 1) potentially having multiple solutions when the cash flow from the investment goes from positive to negative and vice-versa, and 2) assuming that you can reinvest your positive cash flow from the investment at the same rate of return you expect your investment to make (the IRR).

@Diogo Alves, genuine positive cashflow in Auckland is gone.

hey @Andrew Postell im also curious as i am in the same position and would like to use a heloc from someone else who will give me access to funds but i have no money, poor credit and plan to refinance asap.1.)