@Ned Carey , I am learning on every project so far that the easy way and cheap way is not always the best for sure!

Private lenders are easy to find especially in this low interest rate environment.

Hi Gary, if the pump failed on it's own I would pay the increased energy bill.I don't know where Your from but in Wisconsin the electric/gas bills have a "Degree Days" number on the back of the bill, this number would make it easy to figure the actual increase in fuel used for the month in question this year, and the same month last year, when the pump was working.

Its not going to be easy but could be done.Your second option is the state fair plan.

Very easy.

Sounds as if your parents would take on a lender role rather than partnership role, therefore, the documents are pretty easy and straight forward.

It would probably not be very easy to get a private investor to switch from first to second position.

I like to be pro-active and do more than is absolutely necessary.So far the XRF has only come up with lead areas that were small or easy to cover (encapsulate).

Now there is drywall damage and some wet flooring.Not what I was looking for on a Monday (or any day) but if it was easy, everyone would do it.

Also know that getting a mortgage on a income property is pretty easy but you do need 20% down.might make sense to buy income property outside of vancouver in other areas of lower mainland and just pay rent and live in vancouver.