Purchase price: $375,000 Cash invested: $30,000 This was a 2 unit that I purchased in 2016 for $375K.

I found a house that I like to purchase in a great neighborhood and the exterior looks great for a 1922 stick built house.

I have not every purchased property in Canada, but my wife is Canadian and I've seen some of the issues her family has had to deal with.  

So, you can do a land contract for 12 months, which should allow lender to credit you full value of the land vs the purchase price, but the loan will pay off the land contract, so the lender maintains first lien position.Can't help you with the rest of your question, but you should be able to search for "CPA" here on BP to find experts to reach out to.

Purchase price: $185,000 Cash invested: $35,000 Sale price: $671,000This was our 3rd home.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

Quote from @Andrea Lucarelli: I’m interested in beginning my REI career with purchasing a SFH or condo in Cleveland area (safe neighborhood) to list as a furnished rental for travel medical professionals, supply corporate housing needs, or house temporarily displaced families for insurance companies.  

Okay I know I asked a different question earlier but I have another one considering anther situation. So this Multi I want to offer in Kearny New Jersey (NJ) has an illegal finished bathroom in the basement and finish...

Any amount you purchase less than you sell, or any amount of cash you take out is considered to be profit. 

I have a couple of buyers that will purchase without due diligence.