Currently I have a student rental in Toronto and a principal home in Pickering (at least on paper). We moved into the rental with the students as my bf’s health is declining and the location is much closer to the Hospital and his specialists. Freehold end unit townhouse in Pickering purchased as residential although the deed is both commercial/ residential. I had ½ converted into commercial. We occupied the commercial space and is empty for the past couple of years. Tried to rent it out but only getting tire kickers. Upstairs was a luxury executive furnished rental. I talked to the zoning and finance departments – got ok to convert back to residential and depending on when MPAC comes to visit (I was told could be up to 3 months!) and deems no more commercial activities there, I might be able to get my property taxes reduced a bit (currently paying both commercial and residential taxes). MV: 850-900K Mtg: 381K Rate: fixed @ 3.19% Maturity date: mid Dec 2017 Mtg pymt: 750 bi-wkly Condo fee: 185/mo Property taxes: 702/mo I can add a kitchen, upgrade the 3 pc bathroom, paint the walls and redo the floors for around 10-11K then rent out both for 4K/mo. Financial situation: I have a stable job and don’t really need lots of CF although we have been 1 income family for over 4 years now. I just sold a property and should have 90K by mid June after closing. No debts except mortgages. My goal: To grow my RE portfolio aggressively in the next 7-10 years through buy & hold and majority will be buy, reno & refin. Holding period for 15-20 years. My questions are: 1) Should I sell or should I reno and rent up & down out? 2) If I sell, should I just do cosmetic stuff instead of the kitchen & upgrade the bathroom (3-4K VS 10-11K)? 3) Since the property is mixed use right now, will it be hard to sell due to the potential buyer needs to get brick & motor mortgage? If I wait for MPAC, I will miss the pre-summer best time selling period ie. May. What would you do if you were me? Thank you in advance for all your advice.