It's worth waiting an extra week or 2 until it's ready before people see it.

Paying over market price for a personal use residence is often justified by measuring the personal intangible benefits against the extra money cost.

In the context of appreciation, loan payoff, etc... coc roi becomes less relevant, but for a conservative investor I tend to focus on cash on cash ROI and the rest is an extra bonus.

Is the new loan really going to require me to stay in this house an extra 10 months?

Since this is essentially a way of paying principal early, you could achieve the same type of savings just using your emergency fund / extra income to pay down your principal early, but most people don't have the savings or want to use it for this purpose.

Even buying a townhouse or semi.. breaking even on cash flow statement is a pipe dream I agree, however that is not preventing people from buying houses, many of them are not really investor, instead family with extra saving trying to put that cache somewhere, they don't do calculations or anything else, they go with simple rule, buy, rent and hold, however that seems to be good strategy in GTA in the last 7 years, which home prices going up relatively faster than other places, I was laughing on guy who bought condo for 250K 4 years ago, now it worth 450K.

You'd probably be able to afford upgrading your primary residence and owning a small vacation rental somewhere, now throw in some extra income from that vacation rental and you should be in pretty good shape. 

In Texas, we can get a tenant out for non-payment in +-21 days at a cost of approx $150 which includes service by the Constable-Initial 3 day notice can be done by certified mail-Tenant can by an extra 5 days by appealing using a Pauper's Affidavit(State they have no money to appeal) however they have to pay one month's rent by the end of 5 days and the almost always never do-The eviction is straight forward and can be done by the owner if owned by an LLC. 

Hey @Damian Spears, there are quite a few companies both local and national that do property management so there is a lot of competition.For the 15-20% you are planning on charging, does that include cleaning and repairs at no extra cost to the owner? 

@Sylvia Parker I strongly agree with @Kris Wong in that having no extra capital for repairs/maintenance, evictions, etc is a very risky way to go about doing your first deal.