The Owner of a small-medium sized property management company has expressed an interest selling and has offered it to me to purchase.  

Hi all, with cap rates in most medium sized markets at 5 cap, and those that are transacting around this cap rate, what is your plan?

I've been buying this year in Calgary I just put one under contract this week, the only thing I am less certain to be honest is the medium-long term economy of the region, but all the properties I get have stupid amount of net cashflow so I really don't bank on appreciation.

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I would start figuring out which couple of marketing mediums you are going to focus on to build your business and start!

Usually too expensive to work on average rental properties.Type 3 (Average Quality, Average Price)May build an occasional garage or addition, typically focused on remodeling and maintenance work.No advertising, the contractor is the sales/bid staff, no design services, office support is typically wife/girlfriend/mother.Low overhead leads to markups of only 25%+.Bids: Difficult to get a professional-looking bid from them because they would rather be making money working, instead of spending their time doing bids for free.Comment: Contractors that are perfect for medium/low-end flips & rental properties.

The width being 1/4-1/3” wide.

There's a good chance that we can obtain another 12-25' in width from the city (an old rail line that runs adjacent to the property).So the property is ideal for it.

The medium home value in my area is $400k.

I’ve not had any FHA loans not go through because of a non conforming property because this is actually quite common with older neighborhoods.Example, I had 12 lots together and all were 40’ width.