$1500 NET income is excellent to be honest, but you’ll soon find out you don’t have $1500 left over.

Makes it very easy to export all your deposits into Excel / accounting software at the end of the year and do your taxes.Personally I have the local bank hold the mortgage too, so when it comes time for another purchase or refi, they already have the rent roll history.

Account Closed    Excellent point!

https://www.youtube.com/channel/UCdRtqnqBSq4GY7DGi...Also there are a few excellent podcasts that I listen to religiously.http://breakthroughreipodcast.ca/http://www.truthaboutrealestateinvesting.ca/https://sarahlarbi.com/podcast/Those are all Canadian, by the way.The next step is: find a market (a city to invest in).

Sellers throwing off bad vibes are a excellent reason to bail.

I remember countless novice flippers who walked away from multiple properties during the last RE slide after that $335K buy with 30K rehab wouldnt list for $315K.

I have an Excel sheet I use that I actually found on BP.

We are in our late 40's, early 50's, have a large amount of equity in our current SFH, excellent credit, only a car payment for liabilities/debt.  

Maintaining an excel sheet has worked greatly for me. 

Obtaining a HELOC is an excellent option as long as the ROI from the projected investment looks good.