, reducing your housing costs.Potentially higher cash flow.Cons:More intensive management (two tenants, two leases).Can be harder to finance than single-family homes.May not appreciate as quickly in some markets.Here's where I need YOUR input!

It’s gotten me seriously considering bringing an attorney in-house to handle evictions and other legal needs moving forward.I’m evaluating this from two angles:Cost Efficiency: With the expense as high as it is, having in-house counsel could potentially reduce costs over time.

Hi @Akintunde AboabaIf you want to reduce your risk of difficult tenants, choose a province with fair landlord-tenant laws, like Alberta, and not BC.

Also prevented us from making wrong statements on our part which would have reduced the claim.3.  

Its great that the seller is will to carry a note in a seller 2nd as well, that will help reduce your require monthly payment with the right lenders.

All else being equal, lower mortgage rates reduce the cost of ownership and, thereby, allow more people to afford to buy.

Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health) and choose the one that is most “stable” with the best potential for long term tenancy.This advice is contrary to maximization of rental income, but IMO will reduce expenses of tenant turnover, property damage, property management fees so much that the difference in bottom line income will be quite small.  

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

If I pay it off, I could maximize cash flow earlier, reducing financial stress and allowing me to focus on other ventures or simply enjoy life more.On the other hand, I know some people advocate for keeping cheap debt and using the extra cash to invest elsewhere for potentially higher returns.Why I’m leaning toward paying it off:Security: No debt = peace of mind.Financial freedom earlier: A fully paid-off rental would give me a significant monthly cash flow?

However, you'll likely be able to put more money in your pocket if your reducing your living expenses in a HCOL area.