It comes down to 3 things...Screening, screening and screening I can't stress that enough make sure to ask prospects the right questions and also verify income, job history and rental history.I used to check people's social media for extra due diligence.

That way I have a document showing what she is promising me in terms of performance, and that I can hold her accountable for.

@Yetunde IjamsHere is a copy of the Alberta Residential Tenancies Act ... a good place to start.Then you can visit Laws for Landlords and Tenants in Alberta for additional information and  sample documents.

And, The $550 they said it was for documentation fees.

Originally posted by @Nicholas Lohr:  I live in California and I know that this state has MUCH lower returns than say the Midwest  What documentation do you have for this "known"? 

Likewise, brokers 'transfer' possession only after documents are recorded.

That debt will be settled out of my own pocket after closing.The moral of the story is to find a competent attorney that understands what you are trying to be do, so that all of the proper documentation can be created and filed. 

If I decide to go forward with purchasing the property, other than a Bill of Sale, what documents do I need? 

By getting both of those documents signed, it will allow you to negotiate with the second and if they won't play ball, you can go ahead and foreclose them out.

With multiple investment properties you have a history and track record as an investor. 2.