If the intention is to ultimately rent out the property, a key principle to follow is buying an investment where the people already are, not in fringe areas that get hit harder in softer market cycles or have to compete on rents when things get soft.

Sone landlords only like to do 3 year leases so they do not have to pay tenant broker for many years commission versus 5 to 10 year lease but that can be short sighted if tenant is high quality.

Would there be any benefit to selling one, putting that money towards paying down the principle on the other?

Conventional has the lowest rates, which would give you the ability to put more towards principle versus interest.

Maybe I am short sighted, but if I was a seller, why would I ever want to make one of the largest transactions of my life with a stranger, whom I have never seen or met in person before and only got in contact with from a piece of direct mail?

That is a well established legal principle -not likely to be different in any state. 

I think it's really really hard to cash-flow anywhere in the lower mainland so I'm setting my sights further afield.

Many investors from Ontario and out west are making offers sight-unseen.

Like I said its not the lost money, its the principle.

Joshua is 100% correct on the first deal -- no way that will work unless it's in Austin or a market in which dealers will rent lots sight unseen at a big rent.