Quote from @George Red: I just don’t want to eat the unit turn costs.This is just my opinion.....but this fear of 'Unit Turn Cost' that a lot of landlords talk about is not good business in the long-term view.

@Greg Pond I certainly am no expert in purchasing a PM, but I do pick out red flags easy and with your numbers you provided on 40 doors, that means those 40 doors are renting for 200-250 per month roughly?

"There are old pilots, there are bold pilots, but there are no old, bold pilots."

If they sound not professional, then obviously that's a red flag. 

Last thing I'd want to do is rush into a property, miss red flags, and end up getting in a bad situation.Is a rehab in a C class neighborhood (which is what it would likely be) a bad idea for my first property?

I had a terrible experience with them, mostly because I missed/ignored all the flashing red lights. 

Any specific red flags to identify bad actors and avoid doing business with them in these areas?

I am wondering if there is any red flag.

City may have red flags on several issues. 

Roll out the red carpet.I don't know how it works up in Canada (although I'm fascinated to learn), but if you're not using a well-connected broker, then I would skip the skip tracing.