I already had a background in fixing up places, but I really didn't start diving deep into renovation until after we had the first property.I know it's terrifying.

This will run 20K for the well in some cases depending on how deep you need to go for good water.

There is a lot of information on BP about running the numbers on possible acquisitions.My advice is to dive into the wealth of information in the Videos section of this website.I am trying to gain more, and more knowledge and luckily my off-days just started so I will probably be on this site every second I am up for the next two days digging in deep and taking notes.

The margins aren't wide enough (cash flow is negative even without paying insurance) and the reserves aren't deep enough in this deal to allow for a cushion when things go wrong, which they inevitably do. 

SFRs in the suburbs are for growing families who want to be in certain school districts--these properties will have high property taxes and be at the more expensive end of the spectrum, but you can find fixer uppers and sell them at a good price after rehab if you are patient and look deep--try auction sites like Auction.com, Williams & Williams, Xome, Hubzu.

To get this back to where it should be, you'll be spending way more money than you anticipate, because it will mean renovating all the walls.My advice is to dig into the walls and see how deep the baseboard goes, then pull a few.

Deep Johal how's your investment experience In Canada?

I think the forums are a great place but I must stress that we still all need to dig deep as there are many twists,  turns and loopholes in real estate and just because it is done one way in one state does not mean that it will work that way in another state.

Granted I’m not knee deep in these types of investments but it doesn’t exactly seem like it’s enforced from what I’ve seen. 

Granted, I am very new and still learning to analyze properties, but it says in the description that it rented for $1272 and is listed at $375k.Not sure if you were just looking at houses in the price range that Jonathan mentioned and not too deep into the numbers, but how could that work for a house hack?