You've gotten a great response above from @Michael Plaks I'll also note that for this or any similar "strategy" people come across to just step back and ask the following: Does this have a genuine profit/business motive? 

Wondering what the process looks like for getting a conventional loan for an out-of-state deal.

@Marinelle TanI wonder what would happen if you let the permit lapse.

Yes, Sierra from Wolf Den Realty is wonderful.

I was wondering if anyone had experienced this and what’s the best way to go about it?

But I'm starting to wonder if and when some appreciation resumes, and if and when market will dictate rent increases.Appreciate any opinions - thanks

@Jay StraderI'm wondering the same thing - I had an attorney review the contract & basically all it said was invest at your own risk.

I think when you start you need to make sure you work with people who are reliable.

I haven't bought a deal or anything I'm still saving up, I'm at 25k I'll hopefully be ready to buy in the next three years, otherwise the city I'm buying in is Barrie which is generally a great appreciation market, I've got two brothers Chris owns two rental properties and Ryan just bought his first partnering up with my brother chrises second deal, so I might partner up for my first deal I don't know yet tho depends on what my brothers want to do.when shopping properties I do remember from the book you shouldn't buy properties based off cap rates but im wondering at the beginning do you first skim this information say the property is listed at a 6% cap rates which is common in the Barrie market would I then would go walk the property and see if things are viably ok, once I believe it's resdy for a professional inspection I'll get information about deferred maintenances mainly capex based off what I need to repier I'll be walking the property with the professional and I guess he'll give me a rough cost of How much everything that is needed and when I need to get the work done due dates, also I don't know how to calculate how much I should set aside in monthly terms after I get the required information from the inspector I'll be doing this for the first time, if the pure cash flow is incheck  I believe usually NOI is usually around 60% including appreciation and mortgage income andone going deferred maintenances around 35-40%, now I'm ready to make an offer?

I have a single family house (primary residence) and am wondering the pros and cons of selling to a builder?