In short, I’m trying to figure out if it’s worth pursuing an off-market seller financing deal versus getting a traditional loan and competing for the property on the open market.

You rarely will get both (at least not right now in this current market).If you want to explore different opportunities within various areas of the Valley, get a seasoned investor-friendly Realtor who is competent. 

I'm extremely new when it come to real estate. I'm a second year accounting student in Ottawa ON and I have been looking into sales on assignment as a way to real way to get into the felid of real estate. I don't have...

UNTIL YOU SELL THE PROPERTY... then the cap goes away and you are taxed on the fair market value of the house which is usually the new sales price less maybe 15%.  

Activities like tenant management, marketing, bookkeeping, inspections, overseeing contractors, and compliance tasks all count.Avoid outsourcing tasks, as this reduces eligible hours, and consider adding properties if meeting the threshold is challenging.

If this is not something you're interested in delving into and learning to a high degree, then investing in publicly traded REITs would be another good option for you, which have historically returned about 13.5 per cent Per year over the past 50 years (1977-present), beating the US stock market by two per cent and even beating private real estate investing by 4 per cent (that's compared with the average real estate investor, not the experts here at Bigger Pockets).

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

I have tried both, I think it depends on the market you are targeting and the type of leads.

Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. 

Finding great off-market deals can feel like a needle-in-a-haystack challenge.