Hanging on to a property for any reason other than financial, is an emotional decision...or a bad poker move. 

I think I have enough career stability that I could always find decent -paying work if I lost my job for some unforeseen reason, and of course my husband can always work more.

It’s pretty simple, if you can make a legitimate claim that it’s your primary residence there’s not reason cmhc won’t insure the loan.I’m pretty shocked a mortgage broker would give that point of view, it’s flat out wrong.

Austin will not see a major effect of the that in the housing market due to numerous reasons.

Or other reasons?

This will give a more reasonable (conservative) analysis. 

This is one reason I use an overall percentage (55%) for expenses when completing my initial analysis.  

My buddy just approached me with an offer to invest with him in buying foreclosures, he is a GC and he has done house flipping before, he wants me to invest 30K-50K of my own money and use it to get a 6 month rehab loan from a hard money lender at a little over 11% interest, after the House was finished we would split 50/50, he would also add me to his LLC that we would use for that future buy, the reason I’m thinking about investing Is bc I own my own business which will bring 200K this year in gross profits, the down side of my business is that I work 12 hour a day 5 days a week, and I feel that I’m slowly burning out.

Hi @Christopher West is there a reason you're using only 5% for vacancy and 8% for repairs and CapEx?

The reason for this is that the tenant key also opens the "common area" doors, so I am in essence giving them the key.