The scope of what I would do was far beyond, and a LOT more expensive than what they were thinking. 

All it took was removing a couch and a TV and giving the exterior a quick pressure wash.

A giant laundry room, a two-car garage, and a separate living room.

It is always nice to live close to your rental properties (although not absolutely necessary), and as a military guy you are able to choose where you retire to.

Can anyone help me to figure out a good economical, small multifamily builder to contact, and a realtor with lots of this type of experience, or let me know if I'm on the right track with this?

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

Add to that there is currently a ban on foreign buyers in Canada (only a few exceptions and as far as I know they all involve living here).Capital gains taxes apparently used to be higher (before my time). 

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

What's the difference between a full-service broker and a discount broker, and how does that affect the services they offer and the fees they charge?

I posted on Facebook that I was looking to buy a flip, and a fellow agent sent me some details about a property she was going to list.