Fridges, ranges, HVAC, roof leaks, repaint and carpets at turnover, landscaping during vacancy, clogged toilet, etc: these things happen.  

That would be sufficient for me, assuming you've already verified his employment.

I’m looking at Condos in my area in the $250k range, pulling $22.5k out of the 401k to buy, but was considering (if possible) a hard money lender for the other $40k (for 24 months) to avoid pmi (which is $270)My Questions are:Are there hard money lenders to stay away from?

But reviewing a few DST projects the distribution projected are in the 4%-5% instead of what I remember 2-3 years ago in the >6% range.

I used the BP rental calculator to assess the properties for sale for almost every property within my price range.

How would one go about finding a flexible term hard money loan against real estate they own outright in the $4m range in California?

Your credit score will give you a sweet interest rate but let's talk cash requirement and price ranges on deals. 

My range was $160k-$200k.

The electric cost at home will be approx $2 per day for the same range as with Gas.

Nobody has a 'crystal ball' but the average price for a single detached home with duplex potential seems in the range of $500-600K asking price in Kitchener - isn't this unsustainable?