Plumbing, electrical, roof…. etc You have to know the prices (ball park) for each item. 1000 sq ft home Roof: about $6k to $8k AC : $8k to $10k Electrical : wiring : $5k to $7k (with recess light fixtures and installation of light fixtures inside and outside) Electrical panel: $3k to $5k Plumbing (full) 1 bathroom + kitchen : $6k to $8k Cabinets + counter tops: 10 by 10 kitchen (white or gray shaker): installation only: $6k to $8k ) total kitchen with material : $10k to $15k (custom will be more). 

38 - What type of electric system will you be using?

On FHA and conventional, when you put less than 20% down, they hit you with Mortgage Insurance which can eat up any cashflow.

I wonder with Canadian economy struggling if there is potential to purchase distressed properties that could be converted into long-term rentals or successful AirBnbs (especially in the cabin markets that have been hit hard).

I have to upgrade the whole electric also.I called same contractor now who says it needs about 8 new jack units and put about 4 joists for4000$.

It definitely can be done, but it takes more time and more investment per deal to hit $500k fees.Its also a much, much smaller network.

.- The last condition, a bit too long to type here lol but hit me up anytime and I can share more.All the best with your first purchase, happy to share my thoughts on any property you have in mind.

Arizona allows commission credits toward closing, so that part’s fine it’s just about handling the tax side correctly.Bottom line: You’re still getting taxed on it, but with the right accounting strategy, you can minimize the hit.

Your designer says we would like to have a copy of the floorplans with the wall heights, window locations, plumbing and electrical.

First, congratulations it sounds like your first deal is going well and is hitting your targets for cash flow, renovation timing, and hopefully budget.