The saving grace for Toronto condo owners *that bought a few years ago* is the fact that they still usually cash flowed a bit but are now benefiting the sky high prices of SFD and semi homes.

You see these buildings on the interstates all the time, typically being transported in two pieces by a pair of semis. 

Through this process one of my client approached me and stated that they would like to go into business with me investing in real estate now that they have semi -retired from the residential business.

A major negative is that when you strip away the industrial era attributes like water transportation, hydro electric power, relative cool summers ( an industrial neccessity before air conditioning), a semi skilled work force, and the advantages of having a geographically concentrated industry, you are left with a city with a high level of poverty, a low level of education, a corrupt and ineffective government and very bad weather.  

My husband is very busy at work, so my goal is financial freedom for him to retire or semi retire.We followed Dave ramsey for several years, then Mr.moneymustache finallu hit home and has forever changed my life!!

As a fellow semi-newbie, I'd recommend finding some good wholesalers if you intend to do some investing.

Thx Alex, I just feel people have this semi unrealistic idea of what to expect.

From what I can tell in the area, distressed homes sell for 30-45k and 75k would be an ARV on the semi-conservative side of what a rehabbed home would sell for.

With my new employer, I may be getting laid off for 4-6 wks during the winter then start working again in spring as it is a semi weather permitting union job.

If you pick a time period like 1-year, you can typically smooth the numbers from things like insurance and tax payments (since they are made on annual or semi-annual basis).