But that being said, I also was wrestling with the fact that cap rates are in favor of sellers right now, and it might now be as low a cap rate a year from now. sort of worrying about missing out on these crazy low cap rates.... and crazy high equity. 

If your rents had increased over the last 10 years like my market, the numbers would be doubled or $66K/unit in missed rent or $396K for 6 units.Somethings for you to ponder is keeping a good tenant worth $33K?

It sounded like lots of fun until I got more educated about the reality of Ontario Residential Tenancies Act.Maybe I'm missing something, I'm sure lots of you out there are doing well. 

If the shingle are curling, broken, or missing I’d get a couple estimates.

I have been eagerly waiting on this property to close and missed on other opportunities.

You miss revenue on both ends by undercharging and being overpriced/losing bookings.

Maybe I'm just missing some information or not asking the correct question.

I assume you got the security deposit from the seller so you can sue that to pay the missing rent and any damage that has occurred. $700 for a water heater sounds like a steal. $200/mowing seems high, luckily that will go away next month at the latest?

A lot of newer investors miss this. 

I might have missed this but I didn't read anything about current employment while in college.