@Jared Skov, I like that idea.

I was told by a mortgage broker that because I own 2 homes CMHC won't insure my mortgage meaning I must put at least 20% down.Any ideas if this is correct or how I can get around this?

It's something along the line of $5,000 the first year for the Foundations program, where you get educated on how to invest in a multi-family deal, plus you can come to student events where you can meet the sponsors and build a relationship, which is not only a wise idea when you are investing with someone, it's actually required by SEC regulations.

@Kate J.I never speculate and have no idea when the market will “cool down”.

- I know a Insurance Broker in my area but wanted to reach out to the community first to get some peoples opinions and knowledge to have an idea of what I want before talking to him

However that is generally a bad idea and rarely works out well.

Knowing that, it gives me an idea of what I can be looking out for if and when I hold a position in a real estate business.Many thanks!

I have no clue where that idea popped into the CPAs head. 

Luckily I have one friend who is reno business and he gave me an idea what should be done first and what to leave last.

@Jay Legaspi I think a partnership is a great idea, just make sure whatever arrangement you make is as clearly defined as possible and written out ahead of time- and everyone agrees to it.I started with single family, and I'd advise that route too.