A recent change in Canada is the increase in capital gains tax inclusion (increase from 50% to 66.67% on June 25, 2024).

A wrap is INCLUSIVE of the existing note.  

You don't need to, especially on deals that just make sense, but it's a good inclusion if you already have your underwriting model in Excel or gSheets because you can use all those variables, once filled out, to auto-populate various Sensitivity/Stability Analysis charts.Here's what I have for Multifamily/Rentals (all auto-populated from the model):On Fix & Flips, I only include the ARV Stability/Sensitivity Chart (this is the entire model, stability analysis at the bottom):Since having these built out, it's something I mostly just glance at after underwriting to make sure everything looks good.

This isn't inclusive but should give you a good start.

The likelihood of all of these occurring is low in a typical subject-to transaction. its why way back in our day we did these with wraps CA has a debt instrument called an All inclusive Deed of Trust it wraps the orginal mortgage it is a second in function my dad had a company called CA wrap back in the day and did hundreds of them.. its de ja vu all over again.. he did this during the Carter interest rate spikes just like sub too is now coming to light in a big way because of interest rate spikes.. 

Would that standard 35-40% opex ratio be inclusive of some percentages for property mgmt fees (8-10% usually) and some sort of capex reserve assumptions?

This isn't inclusive but should give you a good start.

This isn't inclusive but should give you a good start.

That's certainly not an all inclusive list.

You could do an all inclusive deed which is a wrap.Things like title, mortgage, foreclosure and eviction all come into play and those are decided by which state the property is in and the goals of what is acceptable to both parties.