@Aaron Zimmerman Good point about structure set up and determining cost bases.

As a result, while the US market is stuck in the lock-in effect, the Canadian market is kinda booming so it makes more sense for Americans to consider Canada nowadays, except for the fact that Canada has on average one of the if not the most unaffordable real estate in the world.Hope this helps.

Also happy to answer any questions about the process if anyone's considering adding them to their marketing. 

If you are considering long term holding always remember to include your reserves for cap ex, maintenance & vacancy. 

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

That being said, I don't have the information I would need to say for certain, but that sounds as if that's a high price for the asset you're considering to buy.

The problem is, none of it is based on actual comps, and again, the word "cute" doesn't have anything to do with setting those numners.What you need to do is a full analysis of the comps for both rent and sold in your area. 

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.