My first purchase, first property, I had a great realtor.

This means having to take a chance and take the property off the market for 2 weeksOption 2- Accept the offer with a provision that allows you to continue to market the property, knowing that there's a chance FHA may not fund the deal. 

Search for properties listed 90+ days.

The first mistake is the property is free and clear.  

Spoke with multiple credit unions and they mentioned a rental property needs to show at least two years of rental income in order for that income to be counted into the DTI ratio. 

Hey Stepan,In today’s market, finding solid flip deals requires being more strategic with property selection.

He’s an investor himself, has a STR property management and has everything dialed in. 

I wonder with Canadian economy struggling if there is potential to purchase distressed properties that could be converted into long-term rentals or successful AirBnbs (especially in the cabin markets that have been hit hard).

Why borrow against an investment property at a higher rate than you can against your primary?

Quote from @Joanne Bragg: I found a great property at an excellent price to flip.