The limitation is set by income, and after that limitation is set, the money can come from anywhere, as far as the plan is concerned.However, that's a limited perspective.

Be sure to understand whether or not your home is under the Historic Society as they limit the types of materials you can use for rehabs.

Also, if the economy tanks and we have to dump it for cost, I would want to write it up to share the loss.

However, until then, i don't expect Nova Scotian municipalities will enforce legislation limiting our re-positioning of rental housing - as long as we don't disturb the neighbours and pay the CRA :)Looking forward to any feedback Paul

.$450K purchase price, 25% down...30 year fixed rate mortgage at 5% on $337,500 is $1,812 per month...So if you have zero vacancy you'll break-even on the mortgage...And then burn money on maintenance, cap-ex (likely very limited), any vacancy, property taxes, insurance, etc.Consequently, you really, really, REALLY need that home price to go up. 

One girl has credit score of 400, her supposed boyfriend has credit score of 650, 2 other adults will also be moving in with them, which is the height of our limit of 4 people per room, I don't know the other 2 credit scores yet but of course I'll screen.

. $300k limits pre-umbrella required on cars and houses. 

Would rental loss and royalty loss be one of these? 

This includes both inside the city limits of Mt.

Most big banks will follow FHA guidelines, but some of the local banks / credit unions have more aggressive products and can lend with higher LTV or DTI limits once you have some experience.