We don’t bother with security deposits, so there’s no recourse against the outgoing tenant who destroyed the furniture that was ‘new’ (meaning great condition off of Craigslist) just a year prior.

This is because the purpose of insurance is to restore the property to its pre-damaged condition.

After work, I would go work in the house until ready for showing (houses were in good condition so not full remiss).

I think this might be a low point because the Canadian government is trying to pump the housing market before the election next year by lowering rates, relaxing mortgage insurance conditions etc.

For context, (1) the property was in poor condition when I acquired it, and (2) I’m a passive real estate investor.Here are my expenses:- Travel (~$2,000) and meals during travel ($500)—I understand only 50% of meal costs are deductible.- Gardening maintenance (just to prevent the grass from getting too high, not an improvement).- In-year tax consultation ($300).- Commission to my buyer’s agent ($300).- Insurance premium ($1,000).- Insurance deductible following a claim ($1,000).I believe the property won’t begin to depreciate until it’s in service, which seems to align with how TurboTax is set up.

I think this city is target to that since population will keep coming due to house affordability (getting away from miami) If you're looking for quick flip , you may have to look for a different exit strategy as different houses here has similar condition , you have some competitors .... you can go either with price reduction strategy, partnerships or use creative finance strategyGood luck

This hands-on approach could also give you more flexibility to adjust to market conditions, like listing at the right time.Lastly, even though you didn’t invest your own money in the deal, building relationships with your private money lenders and owner financiers for future deals is key.

Like @Corey Hawkinson pointed out a person can still utilize them, but with much updated adjustments and conditional variations.

Hello everyone, I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)I'm seeing a lot of deals from wholesalers, but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?

Do you usually look for specific brands when buying secondhand, or is it more about the overall condition?