I would like to do the BRRRR method.

In general, if you have a typical condo unit the HOA insurance covers the exterior structure while your insurance covers the "studs in."5.

Here's a revised response with a more structured format:---Hey JeffIt sounds like you’ve got a solid deal in the works, but I totally understand your concerns about the 5-year seller carry.

Also there is far less middle class there.. you have pretty to very well off and you have those that live on small wages given the tax structure and the PST and GST. on the health my golf buddy there his daughter had a brain tumor ( benign thank god) but because it was not going to kill her or so they thought) took her almost a year to get into surgery and by that time she was pretty much blind..

Even though I had a full size W/D on site, I still used this method.....

Options ive looked at are the Burrrr method, house hacking with fha living in the property for a year doing small upgrades and forcing appreciation refinance then rent and repeat that every year until we reach our goal.

And given that, in a major city, there are hundreds of houses put on the market weekly, you need a method to efficiently screen properties to make sure they won't bleed money before you spend time analyzing, touring them ect. 

The issue I have seen with these types of properties is they could have two valuations - the value of the real estate which the structures will have little value and you have the land the other is as an operating business just like a bed and breakfast would have - real estate has value but it operates a business now you mention 12k / month but if someone also has to manage the property what is that worth and what would someone pay to manage a property like this?

I partner with investors in this way and would love to talk you through how I structure that type of deal.

Post on Craigslist seems like another 'guru' but I cannot put my finger on it, he seems to be following Cherif method, not sure what to make of it.