Other than that I'd be looking at debt terms with local banks.

I am also an Engineer but looking to make some investments so I can work towards financial freedom.  

I have zero investments at this point but my plan is once I've built up some money and in a financial position to purchase my first home (2-3 years) to purchase a multi family home, a duplex up to a quad plex depending on what kind of deals I find at the time and the market.

My journey to the world of REI began with my personal experience as a renter, HGTV, Dave Ramsey podcasts, a desire to become an agent, and now the Bigger Pockets podcast.I am most enthusiastic about building a portfolio of rental properties for financial freedom.

Yes, $1000/month is after all expenses and debt servicing.

Make sure to talk over the septic situation with them.As long as they are on-board then I'd hire an architect and bid it to a few contractors and see if it made financial sense.

They were looking to get debt on the portfolio a while back, but found that local banks were very conservative, and needed appraisals on each property individually, which would have been cost prohibitive for us.  

The warranty  was negotiated at closing, and I am contracted with them for a year, but will definitely will be contracted with them on all my future investments, it relieve a lot of repairs and expenses as an investor.Good Luck, and enjoy being financially free!

I've spoken to Ottawa Mortgage Brokers about this, and they have private money lenders that will base their loans on home value and rental/flip potential rather than your personal financial situation.

I really enjoy my day job as an engineering but I hope that real estate investing can be my vehicle to financial freedom.