And what your realtor is probably talking about is that you might be able to get around the requirement to live in the property for a year if life circumstances outside of your control change (job loss/change, family hardship, etc.).

Your buying criteria or business strategy may change, and dealflow may change and you definitely will do more or less deals in certain years due to market circumstances, but: 1.

It just depends on the person(s) and circumstance for me.

Given your circumstances, I'd make a claim in a heartbeat.

Depends on your perspective and personal circumstances.

That is due to extenuating circumstance (wife is 8 months pregnant) so we have been playing it pretty safe.

You have to learn how to deal with tenants, with contractors, and even how to do the clerical work (it is boring but you will learn to organize yourself and find your own system).You could follow a thousand course but you will learn more about building a solid business if you have a first hand experience of the trade.On the other hand, after a while and depending on the circumstances it could be interesting to hire a PM.

It looks like the report shows negative cashflow, which isn't always bad; however, I don't see it getting better given the future circumstances you listed.

The Human Rights Commission is all over cases involving those circumstances, so tread lightly, and make any formal decisions in writing.

I ended up reaching out to a developer nearby who is going to buy and utilize the land to its highest and best use, given the circumstances.