I do it fully amortizing over 5 years but you could do interest only or amortized over a longer period with a balloon.I've found that if I fully amortize it tends to eat up all of the cash flow/make the property slightly negative cash flow but I like doing that so I'll be in a good equity position in 5 years.Not sure how different this would be in Canada though...

I checked out Tokeet but I dislike AirBNB even more for two reasons: time of payment and cancellation period so I would like another free or inexpensive software system similar to Tokeet but can not only accept multiple channels but will allow downloads from VRBO.Is there another VRBO out there and even if so what software can others suggest given the situations described.Thanks and I look forward to hearing from  you.

I have 2 more days for inspection period and the ability to cancel the agreement without penalty .

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

I have see a few people generate some big gains (as a percent) in their IRA doing this... just make sure you don't do it too many times in that 12 month period.

I'm not too far from you and I used Guaranteed Rate.  

now that the honey moon period is over  IE post GFC  08 to 2011 melt down and RE has start to balance out.. back to what was in my day a normal market  IE deals had to be gotten not just plucked off the treeswhat are you doing to adjust to the new times...

You are guaranteed to learn something from it even if only how to spot a phony deal, but I think that is a great skill to start to hone.  

For tax deeds the owner can still normally redeem the property for a certain period of time and it can be tough to finance them for a year at least where I am looking. 

Often times you can nip problems in the bud if you check up on your properties periodically and make sure tenants are abiding by the terms of the rental agreement during the course of their tenancy.