I've walked through a property with a wholesaler and when I walked in I told him the ceiling height here is a big factor for resale and I can't use the comps he sent me.

Not sure your situation financially but even your $100,000 HELOC is going to probably run you $12,000 additional each year in expense that you've got to factor in.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.

I think another factor here in determining whether its a good investment is your age and your goals. 

ARV is a very important factor here. 600 FICO is minimum. 

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

I understand some of the economic factors that can lead one to a particular city or province (or state), but unsure of some of the key elements as you funnel down below that level.Appreciate any insight.Tyler 

I'm not in that market so I can't speak specifically to it, but to me the deciding factor would be what the surrounding units and area has. 

One of the biggest factors in successful flips is building a strong team: contractors, agents, lenders, and property managers. 

Property Valuation:Investors look at a variety of factors to determine a property’s value, including comparable sales (comps), rental income potential, and location.