Yes, writing off mortgage interest is cool, but if it costs you a fortune just to be able to do that...what's the point?

So if you can find a market that it's appreciating at a huge rate you can make a fortune.

Fortunately, I've been accumulating them over the years, so I only had to augment my collection when I started rehabbing seriously.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.

I have been fortunate to have a wonderful tenant who takes great care of the place and pays her rent on time every month.  

@Linda WilliamsAmanda Han is a real estate CPA active on BP.Your local REIA clubs can provide a real estate attorney.Paul

It is possible and it is legal, call the attorney for the Quebec real estate club and she will tell you.

Fortunately, my day job is working with people in exactly that situation, so I feel well-prepared for it if only because it'd be extremely hard to tell me a believable lie about her situation when I do that kind of work professionally.

We were fortunate to rent out the properties between $2,400 to $3,000 with no vacancy except when we remodeled the house after purchase.