With HMLs and cash in place, it sounds like you’re set up for success as you move into BRRRRs and multi-family investments.

Hi Everyone, thanks for thread - I'm in Toronto and new to BP and to REI overall.

Owning the dirt and renting the house is a great plan.

If it were more than three years ago and everything else on their application was perfect, then I would consider it.However, I've never seen that in 15 years of management with hundreds of rentals and thousands of applications.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If they say put up higher railings, additional smoke detectors, etc, complete it promptly and document it.I've been in the landlord business for 20 years, and I've always kept my properties to code and well maintained. 

Just drive and knock on doors with no money or experience and you will kill it.

I agree - it's a smart way to get into real estate—especially if you want to save on living costs and start building wealth.

When are you planning to do the renovations and rent out the other unit?

You building and handling the rental, hanging signs, etc is an orange.