Rather, you are moving your money from a vehicle (savings account presumably) that likely earns you 1-2% interest per year to an asset (rental property) that has potential to earn you 12% CoC year 1 according to your calculations.

I wasn't sure exactly what to expect - presumably just a lot of networking and maybe some discussions on deals and strategies happening amongst the attendees, which of course is exactly what I need to surround myself with as a beginner.

She’s willing to spend an unknown but presumably large amount of her time, as well as offer to educate you, and all she wants is your promise that if you buy a property you will allow her to make the commission.

And with the lack of transparency about the results of his investors he has lured more and more unsuspecting people to use their personal savings, retirement funds, second mortgages etc to invest with his company with presumably very little chance of their property ever panning out in the way he advertises.

If none of these work, maybe you use your funds (presumably $10k) and get a 10% down payment for a $100k property?

I understand that future capital improvements would be depreciable but if none of the value of the existing infrastructure can be applied towards the basis, it obviously changes my after-tax returns significantly. 2)  If the answer to question 1 is no, can I effectively create a defensible basis by getting a cost segregation done that breaks out the true value of the infrastructure or, would the appraisal suffice since the appraiser would presumably provide a breakout of the infrastructure value?  

Presumably the GC already looked at the property with you and is knowledgeable enough to assess the cost to repair.  

if its ground water its presumably just in the basement. 

@Matt AndrewsCapital gains taxation is federal, so any strategies for mitigation of taxes due are more broadly applicable than Ontario ... though individual provinces have their own pile-on taxation on the portion of gain included in your income.Though immaterial to the taxation, I presume the mortgage is being held in an SDRSP to which an arms-length third-party is the beneficiary?

Presuming this is a vacant house and it was a foreclosure auction, stretching the rules may be required.