I say wait a year or so because with children, expenses fluctuate and I would want you to wait at least a year to see how good of a management you have over the finances before taking on the landlord endeavor.

I think that advice will serve me well in future deals.  

About 60 percent of the funding would go to "future proof" flood-prone areas.

I am surmising that these are major gut jobs you are about to endeavor.

Goes with the above question - will the next government be as “western-looking” as this one - will my ownership rights be protected in the future?

And, that might prevent you from moving out of your primary residence at a future point.  

I have no one to blame but myself for not participating in financial decision making, carrying credit card balances, being ignorant of our retirement savings and mortgage details, having no personal plan for my own financial future, and never creating a budget.

I know you have moved beyond this but on the chance that a similar situation comes up in the future I offer a few ideas.If you are really serious about getting a property then you need to leave time to make an informed decision which it sounds like you have realized.

I’ve heard rumours they’re trying to implement that in the future, which would be unbelievable but not shocking.

I am looking just as much for a contractor I can do business with in the future just as much as I am looking for someone for this specific project.It would be really great if we had a list out there somewhere for everyone on this forum with attorney, CPA, realtor, contractor etc. recommendations for everyone here to refer to.