So myself and 2 business partners have purchased our first investment property in Hamilton. It`s a legal duplex generating just over $500 cash flow per month. The basement is unfinished and has definite potential to become a 1 bedroom basement apartment. Our target market (like most) is young professionls, mature students, family, we definetly won`t rent the unit just for the sake of renting it. Now one of the partners is suggesting that instead of throwing our money into the basement and creating another suite, we save up our own money and collect the positive cashflow for the downpayment for a second property of similar type. I prefer to inject the money into the basement and unlock the potential of approx $1200+ positive cashflow per month. The basement reno is scheduled for a budget of $16,000. The DP on another property would be about $45000. What do you guys think