That way the first year you get the 1st month without a mortgage payment and the 1st year lower taxes as bonuses. 

Close enough to home for you to oversee easily (one-day round-trip preferred)9.

After the Japanese bombed Pearl Harbor the government rounded up all the Japanese in CA and took their land with the blessing of the courts. 

I'm just not a happy person.From childhood’s hour I have not beenAs others were—I have not seenAs others saw—I could not bringMy passions from a common spring—From the same source I have not takenMy sorrow—I could not awakenMy heart to joy at the same tone—And all I loved—I loved alone—Then—in my childhood—in the dawnOf a most stormy life—was drawnFrom every depth of good and illThe mystery which binds me still—From the torrent, or the fountain—From the red cliff of the mountain—From the sun that round me rolledIn its autumn tint of gold—From the lightning in the skyAs it passed me flying by—From the thunder, and the storm—And the cloud that took the form(When the rest of Heaven was blue)Of a demon in my view—Edgar Allan Poe

Austin-Round Rock MSA's median sales price for January was 365k, and that number only seems to be going up. 

You and the partner can work up a performance bonus or something to incentivize the right things if you end up going this route.Either one can work, depending on what you and the partner are most comfortable with.

Is depreciation and bonus segregation handled in a similar fashion in Canada? 

. $280k x 5.22% = $14616 (the other $24 is just a rounding error from not carrying out the decimals)There is literally no other correct way to calculate cap rate.https://www.biggerpockets.com/...

Added bonuses are that you can make sure that you enjoy it, make sure that you are good at it before getting yourself into any situations, and can make a nice living off of it!

You'll also need Quarter Round to complete the look.