In general, big banks dont invest a lot in their mortgage arms because they arent all that profitable.

If you want a lower tax bill then you would want deductions immediately, if you want profitability in the short term then you would want to depreciate as that spreads depreciation expense over the years.

you might have to basically take the entire interior down to the studs, perform mold remediation, reinsulate, new drywall, new wiring etc.  30k might not cover it.My contractors would determine to the cost to repair (including concealed damage) and I would add $30k profit to compensate for the added work of repairing it (although, having an entire entire new interior would be compensation enough). 

It reviews a number of different structures with  the advantages / issues of each;http://www.mondaq.com/canada/x/334102/Capital+Gains+Tax/Are+United+States+Limited+Liability+Limited+Partnerships+the+Holy+GrailAdding anther layer of complexity is; how much are you generating in profits?

Flipping can be profitable if done right, but it can be time-consuming which may not be ideal if you have a busy day job. 

Sounds like you have the book smarts, which is important to make sure you can turn a profit. 

How far does joining a community only to profit off of others take you?

Your profit on deal #1 is $25k so you would pay taxes on that.

And, actually, they make MORE profits from higher tax's.

Become an expert in one location.There are thousands and thousands of real estate investors in Canada, profiting from their rentals.