Me purchasing it and renting it out to her turns it into an investment property thatvallows me to take advantage of all the tax benefits that come with it.She may lose the primary residence mortgage benefits she has, but I think what we achieve with the conversion outweighs the loss.Cashflow would be immediate and allow for quick savings growth for the next purchase.

Congrats to your success! 

I wonder with Canadian economy struggling if there is potential to purchase distressed properties that could be converted into long-term rentals or successful AirBnbs (especially in the cabin markets that have been hit hard).

You already understand investing, and clearly, you have been pretty successful in life. 

While the price is important, a successful investment is driven by the ROI.

Less likely.You have to have a host of skills and knowledge and $$ to get to make 10 successful rehabs happen in 1 year.

I'm on the hudvash program and have been on it successfully for 16 years.

A partnership requires three things to be successful - Experience, Capital and Time.It looks like you have the capital and experience but maybe not the time.I have my doubts about this working if you have a friend who has weak credit and a limited cash flow.

Let’s swap horror stories, success stories, and maybe even some good contractor recommendations!

After all, he also was in real estate AND a successful baseball player.