I don't know any investors who purchase without an inspection, though I hear about this mythical "no inspector" purchaser from time to time, by way of the rumor mill or pompous listing agent. 

Just decided to get back into retail real estate too so, back helping fellow investors and Home Owners acquire property along with my own projects this should be fun lol.

I own a home which I’m currently living in and planning on making a long-term rental property as well once I move out.

You can learn to do this independently or get a rockstar REALTOR to lead the way.

Call every local investor agenda (look at the agents that have investment property listings and call them) and call every local landlord that owns multiple properties (you can get lists off of Deal Machine).

If the latter you may just be an independent “bird dog” for a wholesaler competing with everyone else. 

While I am always looking for off-market, as an agent with access to MLS, that's my primary source of looking for deals right now. 

My friend also owned a rental property in the same community so I figured it would do well.How did you find this deal and how did you negotiate it?

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

You really have to learn the neighborhoods or work with a sales agent who does.