b) Did the seller acquire the property through probate?

Be careful when you select entity types.A pass-through entity in the United States, such as an LLC, may not hold the same characteristics in Canada.What market are you looking to invest in?

Albany, Syracuse, Utica, OH, PA, etc.) for cashflow.The challenge in these markets is that demand is through the roof, and many properties either sell at the asking price or above the asking price (Suffolk's sale price average was 1.5% ABOVE the asking price).If I were in your shoes, I'd explore local and remote multi-family options before considering the mid-term rental route.All the best!

You are going to be great through the highs of the next few years after this year.

Current goal is focused on growing a portfolio and reinvesting cash flows.

The $1,500 net cash flow you mentioned represents a tightened rental return that could provide consistent passive income.

$400k equity is producing $1600/month cash flow for a return from the cash flow of 4.8%.  

But I haven't done anything through auctions yet, as I have not purchased through an auction up to this point. 

Hopefully you have a Checkbook IRA to avoid the red tape and fees of going through the custodian for each transaction.

Quote from @Mike Calvey: Hey Bobby - Have you tried contacting an agent in that area through the Find An Agent feature with BiggerPockets?