new houses are getting sold for 600K, old houses switched to multiple offer selling model, just like some places in GTA.

However- as the land around them develops, the house will become worth less on the retail side, but at some point, a developer will come in and pay way more than the retail value in order to include their parcel in a larger development.

Option 3: Pay large down-payment on modest rent ready house. 

Now, the house that is about to refinance, I am thinking of turning into a MTR for traveling nurses, or other professionals as such.

My plan is to start house hacking.

Quote from @Vid Vin: Was the house really for 2000 dollars?

Purchase price: $110,000 Cash invested: $45,000 Recently purchased my first house to use as a primary residence, currently I am renovating the kitchen and adding a full bathroom to the first floor.

It was a 1962, ranch-style house with blocked galvanized pipes and a busted water heater!

If there was a house of interest listed it was get there same day and make a strong offer to even have a chance, this doesn't seem to be the case at this moment.

If she went to buy a house and applied for a mortgage, I think the lender would say the same thing aka you don't qualify until you get this removed from the credit report.