A lack of financing options didn't make the plan work out at this time though.Instead, my wife and I are thinking the first place we buy should be local and would purchase a multi-unit house, duplex, triplex, etc. in a fairly affordable neighourhood right in Vancouver.Any advice for someone trying to make a wise decision in the overly expensive Vancouver?

I am fairly conservative though.

They are paying $450 a month for a 2/2 and the landlord hasn't raised rent on them for years - at the same time, the landlord didn't do anything to maintain the property and just let it rot.I think when someone stays that long, they are no longer "tenants" they become "fixtures".

Since it's been a hot market, and I was just getting a handle on it, it felt like the ratio was more like - look at a 200 houses, offer on 20, hope to get 1.Getting things fairly off-MLS is the key.

And if they're looking to sell then you've got a good shot at it being paid off fairly quickly.

However, last year I was doing some painting in one unit and had to wait at the paint counter with a ticket, and I saw those paint scent additives (comes in a small bottle) and they seem to be fairly popular.

So if i pull money out of one to buy another I dont think its fair to pin all the closing costs on the new property.You will not be able to write off 100% of all "repair costs".

Some other people I know have a one bedroom slopeside in breckenridge that they can't get into if there is snow on the ground.I'm sure the property management & placement company has a fair bit to do with it as well.In my book, you probably won't make money on it.

Always maintain " the upper-hand""tit for tat" you loose!

Since I'm fairly young at the age of 28 I think its a great time to start.