We felt totally jerked around from November of last year (2018) to March of this year and got screwed in the end but were fine to be done with her as more and more unsavory things were uncovered.

It could be that a planned brrrr with an unexpected costly surprise uncovered during rehab could change its course to a flip if it becomes too tight in order to keep the capital recycling.

so many people pour money into concepts that have proven to lose money for several years and hope that consuming even more money can make them profitable. ( Of course some are but some/many are simply flawed). 

Your underwriting has a lot of flaws, @Fernando Morales:Closing costs will be 1.5X to 2X what you're figuring for a commercial property.Your loan assumptions are very optimistic.

Anything less and you are just browsing.There are literally thousands of posts about various ways people have used to uncover deals on these forums.

Maybe a flawed explanation or you did not remember the conversation correctly.The key is there is a need for cash in the deal beyond your downpayment.

You'll uncover the right banks in your area pretty quick.  

Any ways , keep me posted on anything you uncover about Kamloops and I’ll pas on what ever I’ve got as well

If it were my deal I would say pas simply because I've done enough remodels to know that you could easily uncover a 5,000 hidden cost (Or way More) I'm not trying to scare you off but my risk tolerance could be way less than yours. 

Tell your friend there's a serious flaw in his logic.Hell, if he wants to use logic like that, why bother buying any insurance at all?