@Ben N. 

This wouldn't work as a flip, but what about as a cash flow property.3/1ARV - $72kRepairs - $65kMonthly rent $950 - $1000Seller is willing to go as low as $25k because I stated due to the repairs that $39k doesn't make sense.I was at less than $5k because it's in terrible condition.Does it makes sense as a Fix 'n Hold?

I have been driving for dollars and taking an hour a day to drive around to check out these pre-foreclosures & vacant homes the last 2 weeks and then if they look like a good fix n flip or rental, then I will go home and write a hand written letter to them.

@Danny N. 1)pretty typical to get a cash out refinance or line of credit against the rented properties at 70-75% of current value.

:@Mark LockiIf you are just starting out, then give Steven Cohen and George Dubés "Legal, Tax and Accounting Strategies for the Canadian Real Estate Investor" a read.Great, thanks @Roy N, I'll pick that up and have a look! 

@Lesley ResnickFollowing -  Looks like a great candidate for the BRRRR -  Did you have to get any special permitting or certs from the city  because it is such n old house ?  

@Percy N.

Originally posted by @Victor N.

N/a How did you find this deal and how did you negotiate it?

On the fix n flip front just be mindful of the market as the housing market has seemed to have plateaued, at least for now.