@Russell Brazil He closed his account, cause he needs to eat a lot of crow.   

Conveniently located near major routes, this property blends modern amenities with rural charm close to Etna Pond.

.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .

I think initially it makes sense to find properties that already have finished basements, in-law suites, etc. as converting those spaces to ADUs will be inexpensive and create a significant amount of rental income ($2,000/month+ in most areas close to the city).

So if this $330k puts them close to the limit, and the market makes a downturn, there will be a margin call.

If you swing for the fences, don't be surprised if you strike out.

I am looking to partner with a close friend of mine (we've worked together many times before with both of us in various roles) to primarily do rehabs for LTR and/or resale.

Total profit less closing costs and commissions will be about 42,500 each or 85k total.I would for sure get a construction loan, may be worth approaching 2 or 3 different banks and getting separate construction loans from different banks. 

That leaves me with 2 houses, both rented but one of them needs to go too.All this is close to the end of a dead end street.

Ask if you title company can do a double closing and if they know what assignment of contract is.