Oh Boy, I went browsing today......and I found an old building with reatil space (leased) on first floor and 2 separate attached Studios, and a 1 bedroom apartment. 

You can decide to utilize those funds to pay it off once you have that much or buy more property with it, especially if we get a recession where cash is king.

I plan to put down $100,000, leaving a seller-held mortgage of $150,000 at an 8% interest rate with a 3-5 year balloon payment. 

A rather unconventional approach.... but I’m looking for a multi-unit (preferably 3/4 units but would consider up to 6 units) in Burlington Ontario or Oakville Ontario.

Many investors start with a variety of insurance carriers to manage different properties.

Here is a framework to think about how buying properties creates the most tax efficiency for you.The 6 levers of depreciation:Lever 1 - % of LandOne of the components of a property is land.Land is NOT DEDUCTIBLE, so low value land properties mean more tax deduction.A value of your overall purchase will be assigned to the land or lot.You receive no near-term tax benefits for buying land.For example - If you buy a $2 MM industrial building outside a rural town on 5 acres, the land value could be $5k an acre.

Here are a few thoughts though:1.

Haven't found much resources on how to structure the deal whether to buy out partner's shares at existing basis (I believe this wouldn't be advantageous as I wouldn't get to mark the asset to market and lose out on depreciation) or open new LLC or S-Corp and buy out both partners (I would end up taking gain tax due to sale but would get new dep. basis).

Sad and frustrating trying to buy from them. 

Investing in a buy and hold that provides some cash flow in a appreciating market.