To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

The purchase price was $560,000, so I knew the costs would be high. 

If the property doesn't meet the DSCR or the value basedon the market cap rate, your down payment will increase to bring up the DSCR orclose the gap to cap-rate value.Challenges/Lessons Learned: Just becauseyou can buy a property with a CMHC insured loan doesn't mean it is a good deal.We've seen a lot of investors agree to pay too much for the properties, and getshocked with a big down payment and low cashflow due to the low DSCRrequirements.

What are some other ways to fund the 15% gap?

The young couple who entered were totally confused and thought he was the realtor!

I understand the cost of having to separate meters and purchasing additional water heaters and such will be hefty.

I have a 2.625% interest rate and the home is in a desirable, established neighborhood in the city and just a few minute walk to the University of Pacific. 

Or invest in the area for the same purpose?

The downside?

It's easier to break these up into two sectors to help simplify the breakdown process.