As an avid reader and absorber of this site I've found myself drawn to certain folks who seem to have ideals/thoughts that very much align with mine. 

All renters got dirtygrams from landlord when common areas were found in less than desirable condition.   

The best deal I've found is a 160k house with a rental potential of $1250. 

However, I’ve found that it’s hard to research for certain parts of the plan, so here I am!

We found a device for smoking pot. 

I am sure you have already found a mortgage broker to work with by now, but if not, I have used www.mortgagewithcindy.ca for single family residential properties. 

So after many hours with the town and digging up old field cards in the basement they found the original 5 family card and eventually agreed to grandfather it in and approve a reversion to a 5 fam or less, whatever I would like and obviously after I close.

Have you found a good contractor?

Any property I've owned more than 1-2 years (and some even sooner) have been refi'd where proceeds exceed my purchase price.You just have to be in a strong cash position (via your $, HML, F&F) to strike when the right value add deal is found. 

I found this one for $.79 @1100 = 1015 with tax and delivery.