He was a bit of a player, so I mention to him that if she was on it and they had a fight, he could not kick her out versus as being a guest and therefore he could sooner.

@Rosh VarugheseYour banking system works a little differently than ours with respect to refinancing and penalties.Before considering penalties, if you need the funds in the short term for an acquisition, you will generally want to refinance and place a mortgage versus a secured line of credit - you will obtain a better rate on the money you borrow.If you will need the money at different periods in time several months out, you may better off with a secured line of credit - your interest rate will be higher, but you need only draw down the monies you need at the moment.Here in Canada, there are stiff penalties (IRD) for early payout of a fixed-rate, fixed-term mortgage.  

Again, look for the ugly building in a good area and, if you are to owner occupy, select the least valuable unit in which to live to maximize your income while improving the overall building.The decision to proceed directly to a building with 2 - 4 units versus another condominium is a mathematical exercise ... if it makes more sense (cents) to skip the condominium, that's what you will do.While your salary may have restricted upward potential, your rental income will top-up your salary and your savings for your next property.  

(As in adding a specific individual or LLC/corp. as an additional insured party on the policy, versus simply providing the same document to all clients without having to make adjustments to the policy). 

I would much rather have a businessman or woman stay in one of my units for 3 - 6 months versus constantly turning the unit every 2-7 days.

They aren't going through every room or checking to see if there brass knobs versus crystal.Yes, appraisers can have a hard time with comps in rural areas, but they have guidelines for dealing with that.HELOC amount you can borrow is based on your ability to make payments.

Zachary R Sink , I think you are on the right track of having a mortgage versus paying cash, as long as you have a decent mortgage rate.

I recognize that NY is extreme, but what are your thoughts on getting the good deals versus playing a role in potentially pushing out many generations of residents?

However, since I am comparing properties that are similar in size, net cash flow, and price, I am wondering should from a CapEx perspective would it be better to have one large furnace, versus 4, and one large hot water heater, versus 4. 

@Ming LimHow effective will the speculation tax without real market data (none is officially collected by the government) to identify the current mix of foreign versus home grown speculators.Also, with allowing exceptions/rebates for working foreign nationals and international students, you still leave the door open to Mom & Dad buying a house or condo for little Senhua/Michaela/Suzie/Lucia to attend university in Canada ... and another for her little brother the following year.