There are workarounds which would require your accountant to understand and possibly make some year end adjustments but it (QB) could be made to work how you want.

Take your time and learn as much as possible, so you do not make costly mistakes.

There's a lot of questions you'll need to ask your lender to make sure it can be done but it is possible.

I'm trying to figure out what are the possibilities with this property, if any??

If you are in a hot and possibly peaked market (Things have slowed right down after the introduction of the foreign investor 15% tax) are there any real good opportunities to get cash flow positive properties?

I will stay active on the forums as much as possible.

I know anything's possible, but the more cash out the better.

It's quite possible that the houses that are rented need just as much rehab.

Long term appreciation and rent growth possibilities?

If you’ve purchased your property with enough margin and this occurs you just take the face value of the policy, close shop on that asset, buy another, and possibly pocket a few bucks in the process.