I know that performing notes are the way for a newbie to cut his teeth in the industry , but i am lost at where to start

Getting set up is feeling like having teeth pulled, but the reward will be there.

Your agent is NOT doing this for you and is only concerned about making their commission, no matter how many cookies they send you or white their teeth are.Cash flow - you are not guaranteed cash flow.

As a property owner, I would never allow a tenant to sub-let my property for any reason whatsoever.

They don't ask if you are going to use to flip, rehab or whatsoever.3.

The tenant goes on to claim that they have no tax information whatsoever and no CRA Notices of Assessment available to verify income (he is self employed and so there are no pay stubs either...).

The thought of partnering with people who demonstrated no regard for you - while you hold the greater risk - makes no sense whatsoever. 

Now I have purchased a house by the skin of my teeth, and for more details about that if someone out there wants to personally write me and maybe school me Id appreciate it very much!

If your existing trim is pretty nice, and not all ate up with teeth marks or whatevs, you can indeed use SW Promar on it and save some money, but not really that much.

Having spent my early career cutting my teeth litigating major insurance companies for refusing claims, I personally have always placed properties into LLCs.