Honestly, if they are otherwise great tenants paying rent on time and keeping the place in great shape and you're receiving no complaints, just let it slide.

Sergey,I have both lent funds from my RRSP to other investors and borrowed from other investors RRSP as well.The process was smooth, the only downside was how long it takes the lawyers to do their stuff. 

Keep them simple so you can evict smoothly if and when you need to.I've collected water and sewer bills separately in the past but I don't any longer.

I agree with @Cal C. on this one; the numbers look very tight unless EVERYTHING runs smoothly.

Things run along smoothly for awhile, then suddenly, everything can go to s***.We put aside 6% of rent every month, religiously, into a repair reserve account.

My plan is to convert into a barber shop, should be a smooth transition.

The plan is to do a cosmetic renovation, with a new kitchen, some new flooring, baseboards, smoothing ceilings, potlights, new windows, lighting, etc.

 $10 wasn't worth evicting him over, so we let it slide until we figured he was selling drugs and/or sex out of his apartment.  

He let that one slide in one of his YouTube videos awhile back. 

I got a little lazy over the last few years and let some of these problem tenants slide, particularly ones that had been with me a while.