It's possible the properties you are looking at are sitting on the market because the rents are not comparable to the area.

One nice thing about condos is that they are relatively simple compared to a house since they are a concrete box, for the most part.

As someone else mentioned, it's probably best to hire a lawyer to do it properly. it's fairly cheap compared to the fines for an unlawful eviction.You can still call animal control, though, and have them do a welfare check on the animals. 

A good mortgage broker will be able to compare and contrast these products for you.

Then again our numbers to build compared to your would not make this feasible for you.

It still turns a pretty solid profit, but not compared to others, and quite frankly, we are putting together cash for a commercial investment with a higher return.

We've also used the MLS to run comparable rental numbers.  

Asking price for the unit is $139,900 (currently working to find comparable values so not sure how much equity would be available at this price yet).

Also, the appraisal I had done compared one mf in Princeton...I'b be happy to share the numbers if you're interested.

I agree with @Roy N. numbers and that should be the minimum, the only thing is price are high compare to rent in montreal so you have to look thoroughly to find a reasonable deal.