If you had 200k in cash in the bank account.

Account ClosedI've had good success in Prince George. 

You can't deduct them as expenses since the properties are not in service.You should speak to your accountant about the $$$s.

I asked my accountant and she said the same thing. 

And be sure to check with folks other than your family banker (where you carry all your accounts) - you'd be surprised how much price / term shopping can save you on each deal.Best of luck to you and I look forward to following your journey!

You should also account for vacancy, a good rule of thumb is to use a conservative number of 8% (30 days out of 365)3. 

None of my tenants use credit cards, they all set up direct withdrawals from their bank account. 

I would assume the 1031 would account for that as far as my parents are concerned but not sure for us as far as our ownership (which would not be qualified as "1031" since this is a primary residence)Does anyone have experience with doing something like this or suggestions? 

If you take out more than the balance of the credit cards, you will now be paying 7% (+ or -) annually on money to buy properties that yield more than 7%. 

The remaining 10% I have in cash sitting in an online savings account.