Can I ask how many properties you have and how long it’s taking you?

Totally ok if you don't plan to take any capital out as interest rates are likely higher than your original loan, and it sounds like the deal will cash flow, but just wanted to point that out so you are speaking the same language.  

How much will the reno cost and how long will it take to complete?

Makes it very easy to take advantage them:(

First of all take the primary residence exemption of $500K out of the equation. 

I wanted to get your take for the Bristol TN area.Thanks in advanceChris Your biggest issue would be having available options after a claim.

Which means I would be subjected to being taxed in the United States as well as when I take my money out in Canada. with further research, I stumbled across setting up an LP which the CRA would recognize and allow for the tax treaty of Canada and the United States have to actually work for me to get the tax credit.can anyone here add to this?

The punch list is taking forever to finish! 

Regarding BRRRing OOS - it can be very dangerous:(Too many newbies take contractors and agents at their word, when "trust, but verify" is extremely important.Given you're in Chicago, would recommend you plan 2 trips for a BRRRR:1) Initial walk-thru with contractor(s), which you should video for documentation & accountability.2) Final walk-thru BEFORE paying out final amounts to contractor(s). 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!