The well is a crap shoot...asking the neighbors about their well depth may give you some indication.  

I cannot speak for Canada, but the crap you posted is dangerous in the United States in general, and even more dangerous in some states.

My partner will either be a flipper who can complete this deal and split the profit with me, or it will be a contractor with crap credit.  

At BP you can access great information such as free online videos and tutorials and also network with other investors.

Long story short this should have closed last week, but some crap came up from the bank underwriting.  

For your tutorial!

Overall, we'll be putting something like $66,000 cash into the deal.  20% downpayment is $36K + $4K closing cost + $20K rehab + $6K for my 10% "oh crap" fund (also known as a contingency fund or an estimate slippage fund).  

So, when she returns to move in and discovers that you do not intend to paint, she may think you're a con artist landlord trying to trick her into a subpar unit -- so, she puts on her hard take-no-crap face on and treats you that way. 

I've been in the middle of a 4 SFH deal for months now, dealing with multiple banks, more crap than I care to remember, etc, etc.

I suggest you learn real estate, not what some crap for brains dreams up to circumvent laws telling you can make big money.....while you feed deal to them or buy their books or go to their seminars.