If you can negotiate the right combination of property price, term of option, and consideration payment you will give the seller, you now have the luxury to utilize the 'time' you have bought with the option to find the highest and best use for the property.So why give up a non-refundable consideration to the seller, when there are those that simply negotiate a $500 or so refundable deposit on a straight purchase and sale agreement? 

I am in an ultra-HCOL country. 

Free legal advice is just a luxury to your previous tenant and does not guarantee them victory in any way if legal suits are filed.  

So lot values could actually drop.What happens is insurance money comes in subs raise their prices out of this world and its 200 a foot to rebuild or more on the high end ones we are trying to do at Silverado our bids are coming in at 400 to 500 a foot just to build.I have been building luxury in Charleston SC and paying 300 a foot to build.. just got one 2600 sq ft done for 750 k but i sold it for 2.2 mil in Jan.. 

Hi Chris,I don't know the Toronto market but what I have read it is ultra competitive similar to the SF Bay Area. 

Investment Info:Large multi-family (5+ units) buy & hold investment.
Purchase price: $750,000 Cash invested: $1,200,000Luxury Apartments in Downtown Radnor PA. We renovated the existing structure and adde...

Because of that, the majority of people here prefer detached lifestyle (SFR) except in the luxury apartment and condo market downtown.

I have heard the rental market is currently saturated as the luxury apartments keep going up but also that the saturation will normalize  over the next 2-3 years with the schools expanding. 

I just sold luxury duplexes in a great neighborhood with amazing schools that each had 5 bedrooms!

Also, I bought mine furnished and depending on where yours is located and what sort of demographic you want booking it (budget conscious, luxury, local emphasis, etc.) will have a huge impact on how you much you should plan to spend on furnishings and decor.