It’s usually either first months rent or half of, so if you plan for annual turnover that’s either 4.2 or 8.4% per month to account for For financing, even if they do seller financing you’ll be hard pressed to find someone who is comfortable with receiving nothing up front.

(I've thought of seller-financing which I will discuss with him on Sunday, HML's but don't understand them quite good enough to feel comfortable using them)Any ideas or suggestions are much appreciated!!

If so, I’d feel comfortable retaking possession.

To say the least, this project is a HUGE undertaking that I wouldn't feel comfortable tackling yet.

They will probably need to have an agent there if you don't feel comfortable for people to be in your place without you there.  

Is there a child that will inherit the property & they want it clarified?

But they're not as comfortable managing or owning a significantly more expensive asset. 

You could also do seller financing if you're not comfortable with the HML.

(still alive and well :) However the paperwork for the Claim for reassessment exclusion for transfer from parent to child was never submitted.

Given the current situation, even if I lower it to 1150, I think I still have enough room in my numbers to cash flow comfortably.