I am currently renting a place in a good neighborhood, and wanting to buy it from the owner, I e-mailed the property manager to ask the owner if he/she will be willing to sell it to me.

It provides cash flow that I live on as I self-manage my commercial/residential r/e rental portfolio which is a longer term play. 

@Derrick E.

@Carolina E. thank you!

The fundamentals of real estate are the same regardless of which side of the border you’re on, and there is definitely an endless amount to learn.

@Sharon S.I use google drive for storage and cozy for rent payment and beaver for accounting/bookkeeping and schedule e preparation. 

@Chris Politylo  In general I believe most STR owners go the traditional financing route to which they are usually going to have to show previous schedule E/C tax returns to prove monthly revenue to apply as additional income when qualifying.  

@Josh E. you should involve your contractor from the beginning prior to making an offer so you know what needs to be done and how much it will cost.

For your rental income part they will usually take your average of the last two schedule e tax returns and add back the depreciation expense.

Out of that area E.