It’s a niche, but a valuable one for Canadian investors looking to diversify into U.S. markets.

No one can predict where the rates will be in the future, but if it is a significant buy down, it could take a while for market rates to catch up. 

The downstairs tenants are a young couple, one works about 30 minutes away and the other goes to school as an engineer.

I need to spend a little more time researching this.

What is likely to happen is you try to solve HER problem - just to have it repeat.You really cannot evict one person w/o evicting ALL OCCUPANTS.Know you think you are doing the right thing, but you are NOT.The only way you can/should assist the mother is if she files a police report on the other occupant.If mother is not willing to do this, do NOT get involved!

Especially because I have my eye on a few more just like this one! 

Landlors should have been documenting the before/after condition with photos this entire time.

Would you recommend for a 1st time investor. 

One of the investors we are working with has a score around 680 but is looking at high 6's with a one year prepayment penalty. 

But, when it comes time to put the deal together and pull the trigger: work with a seasoned real estate attorney with experience in structuring seller carry deals and writing thorough docs that cover your interests, especially with the "what ifs?"