But just to take an opportunist view, you can make it work with an equity partner of sufficient financial strength, or you can go with a balance sheet lender here like a bank or credit union, whose underwriting requirements can be more or less strict on a case by case basis.

But What I would do is open an account strictly for deposits...

The strict requirements consist of a credit score minimum of 620, 1yr reserve of mortgage payments, and property must be in habitable condition.

Welcome to BP be sure to check with condo association on renting some have strict guidelines for % of rental units allowed etc.

The backyard is strictly owned/used by the 1st-floor owner who is an absentee landlord.

It is strictly a contract between buyer and seller.

I have seen ones that do strictly OO, I only remember one though and that was a long time ago (and I'm not even positive if that memory is right...) that being said, Nathan, have you looked into if there's a period that investors are allowed in on it, I think it's a 10 day window of OO preference then investors can step in, think it's call First Look?

How strict are the bylaws in Ontario for basement suites?

I would have a very strict pet addendum, and visit the property periodically to check on the tenant's compliance with it. 

Anyone who doesn't invest in Cleveland leaves more for us that do :-)When it comes to strictly cashflow, low point of entry and nothing else, I challenge anyone to show me where else in the country you can get 2 percent to 3 percent rule on properties in C and sometimes B neighborhoods on a routine basis.