This is advantageous from a tax-savings perspective, lack of confusion perspective and also allows underperforming properties to be kept above board by those that are doing well (this last point can be a blessing and a curse all at once, but for the sake of this answer we'll say it's a plus!). 

I've even waived my commission to make my offer more appealing to a homeowner - a good advantage to have in a seller's market.

The most common concern i was trying to address is taking advantage of an unsophisticated borrower and obtaining their property with equity in it, without adequate consideration.

If we don't incorporate, whose name should the property be in ( if we buy it individually and take advantage of the first time home buyer incentive in ontario we can put 5 percent down instead of 20 and keep cash reserves encase something happens to the property.) ?

I got lucky as this home was a bit too small for families which worked to my advantage.

What are some advantages and disadvantages of using a HML?

Plus right now interest rates are really low, so why not take out a slightly larger loan (assuming you can afford the payments) and take advantage of the low interest.

But then I'm not taking advantage of leverage. 

@Andrew Carlson I think you are combining two separate things: 1. tax advantaged retirement accounts and 2. investing in publicly traded securities (stocks, bonds, mutual funds, ETFs, etc). 

Many would call that a bad deal; however, you have to look at a) the money I saved on living expenses over those 3 years, b) the equity I've gained through appreciation and pay down on a loan that I've never once had to pay with "my own" money, c) the education I've received because I had the bright idea to rent out some spare bedrooms in my house after college; I wouldn't be here on BP with 2 more properties if I hadn't bought that house, and c) the confidence I gained from becoming a female homeowner and landlord at the age of 25.On paper, that house looks like a bad deal; however, I see it as a savings account for another property that also happens to pay me $65 a month.