Although, I have rented in this city for many years so I feel like I have a good idea what rent should be.Purchase240000Dwn Pymt %5%Dwn Pymt $12000Repairs0Cash Down0Cash to Close12000Monthly Rent2800Tax Per Year4750Prop Tax per month396Ins50PM150Mortgage1156HOA0Vacancy(10%)280Repairs(5%)140Total Exp2172NOI1784Inc - Exp(Cashflow)628Annual Cashflow7536CAP8.92C-on-C62.82% of Purchase Price4800Rent % of Purchase Price1.16

Many Investors also like the idea of house hacking.

Although your intentions are good and your idea is commendable, this is not practical.

Any idea or suggestion on what I can do to finance other rental properties in Ontario.Thanks

Thanks Julie, that's a good idea.

@Mike Sands I would probably say working with a hard money lender would be a good idea, but that may also be tough with this being your first deal.

I love the idea of asking neighbors - I'll ask my property manager to do that this week. 

A lot of dumb ideas have made sense to me on paper and I was hoping to get the opinions of those who are more experienced in taking title to properties on this.Thank you!

Florida is a great place for RE investing. Will the possibility of higher corporate taxes, a state income tax, free healthcare, $15 minimum wage and making Florida a sanctuary state impact real estate investing and re...

The idea is to pay cash for the repairs, but try to finance most of the deal with hard money.