It all depends on how we're qualifying for the loan -- are we in a position to be able to provide tax returns and income for the purposes of qualifying?

A win-win situation on this property that has had positive cash flow ever since.

I noticed this cool old theater called the Rialto.

I've noticed some of these smaller towns have very low taxes.

Once your net rental income is 2.5x your personal housing expense, and you have no other consumer debts, and assuming you are only purchasing cashflow positive real estate, you can get a Fannie loan with "Landlord" as your job. 

Purchase price: $194,500 I purchased this home with the intention of fixing it up and renting it out after I rehabed it.I have been earning a positive cash flow for the last 7 years.

After not getting any responses from the 3rd to the 8th i put up a 10 day notice to pay or quit.

Currently the tenant does not have a  written lease with the current owner and the current owner is too timid to stand up and give them 48hour notice.

They will also now consider alternative proof of income rather than just your notice of assessment from CRA.Also that announcement was from CMHC for insured mortgages.

If they don't have experience they are unlikely to be in a position to advise.