@Mike Patel this is not an RE investment but the purchase of a business, do you want to run a liquor store?

There is a great book on brrrr investing available in the bigger pocket book store

Conversely, I DO NOT have a hard limit for credit scores and income, and I think that is a dumb way to choose people.

My fiance and I are looking into first investment in Ontario.I work in Etobicoke, so I am trying to find our first investment property not too far from work - preferably within 100-150km.Here is the breakdown of what we can afford:Current posesed cash: 200kpre-approved mortgage: 600kI am currently thinking of duplex conversion in Hamilton, so I can BRRRR.

And this is a different conversation entirely.

Hi Everyone, Happy NewYear.Anyone doing single-family conversions in Peterborough?

@Anthony Gayden I'm going to dabble in that.Thanks for the replies everyone, let's keep this conversation rolling. 

Based on my conversations with the agent, it seems he is either using residential property evaluation to come to a purchase price and doesn't understand how commercial properties are valued or he's basing the sale price off the proforma valuation.We've gone back and forth and the agent doesn't think the seller is going go lower than $475K.

Now if this is a 5+ unit property we may be having a completely different conversation.

They could have 2,000 locations but for this lease set up a subsidiary of just 300 stores, even worse a few local locations, or the worst a single entity remote LLC they can easily bankrupt and walk away from the location.Look for any early termination clauses in the lease.