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Sounds like a good idea to me.

Sounds like being a roofing salesman is the place to be:) You're in a much better spot than most who are starting out.

Make sure you have cash flow, $200 a month is usually what is needed to break even over time (in my area), roofs, ac, and other big ticket items only need replaced every 15-20 years, but you need to build a cusion for it.

I understand how slow GOV involvement could be, but it sounds like a good option to use the cash for rehab as well as the sale.

Sounds great  I'm going to a meet up this coming Tuesday in Newark  

@Taylor Vallies it sounds like the property of interest has not been foreclosed upon yet so it would not have an REO agent handling the property.

The price sounds really tight, in case the rehab costs are more and then hard money loans, points, fees and closing costs when selling.  

sounds great!

I'm not saying that will happen for sure in Vancouver but I don't see a huge long term drop in prices so if the deal works (and it's in a sound building) in this market then I would say go for it.