One of which is return on equity that is the potential total return on the equity from all sources (cash flow, amortization, appreciation potential, tax benefits) you would have in the event you were to "sell," this property.

I think you need to rethink your lead sources.

Perhaps that particular bank can't do a 2 unit home on a 1 unit lot(R1) on their portfolio program.

We don't have a lot of money to put down, so our monthly payments will be $1300-1320 for mortgage, property tax, and all necessary insurance programs.

We just didn't have the knowledge to be confident in doing so.I have to say that BP is a great source of info and although some things are different here in Canada compared to the US market, I have already gained a lot of knowledge.

What I mean by that, is that I inquired with quite a few local banks what loan programs, rates, rules (overlays), etc they had in preparation for me buying several more rental houses around the beginning of last year.I really liked what Union Bank had to offer because they were a portfolio lender and could be more flexible with the number of loans allowed.

The piece missing is what percent of existing stock the new permits represent, you'll have to find the total size of your market from other sources to complete that calculation.

The First Look program is not new to Jan 2, 2014.

In some markets, a lot fewer deals.A better way to look at it is if your considering a property and you can't get 2% of the purchase price in rents, just understand, you may have to pull funds from other sources to cover vacancies and repairs.

Sorry for the sloppy post..My only real estate source is informing me to be careful with Lenders, this particular one happens to be with Alpine Mortgage