Income Property: Barb and Jamie

Barb and Jamie looked at over 50 houses until they finally found an older triplex in a multicultural downtown neighborhood that would make a great home and provide a rental income from the main floor and basement apartments. They started renovating three years ago, doing all of the work themselves, until last year when they had a baby girl. Since then, Jamie has been trying to complete the construction after hours and entirely on his own. They have finally finished their own upper unit but the main floor apartment is still completely gutted and the basement apartment is unoccupied and full of renovation supplies. Not only has the reno taken much longer than expected, it costs almost double what they originally budgeted. Barb and Jamie are emotionally and financially drained and strained by the process. They need to finish the main floor apartment so they can get rental income coming in and finally start to catch up on their big expenditures.