From this stand point, commercial deals may not be doable for a new player.Besides, on the exit strategy, it is a lot easier to sell a 4-plx rather than 20 units - different kind of buyers...Yes, I agree that from a stand point of tax deferred exchange a 4-plex hardly warrants the legal bill, but it affords easier exit in other ways.

As an incentive interest can be increased from 10 to 12% during the renewal period.The fact that you are going in with $100K of your own puts the deal into the doable category; with an LTV below 50% you enter the very doable category.

If you snooze you can lose. :)

First of all, I guess I need to know if this is even doable if I am obiously, living in Canada and not being in the location.

And try to exclude any prepayment penalty, to keep your options as open as possible.The bank will likely want you to have at least 10% of your funds in the deal (combined LTV <=90%), so a 75/15, or 70/20 on the LTV, may well be doable.

is this doable / legal?

I think this would be doable within a 30-40 minute radius of where I live and within a year or two I could maybe find 6 properties that would fit in those parameters.

Cash flowing properties are still doable, just have to look alot harder than some other markets (ex, off markets deals). 1% is rare, almost always you need do some value add work to increase the rent to achieve it.

It’s doable but will limit your configurations. 

It needs a full gut remodel, but this seems very doable given that I would have around $120-140k to work with as a rehab budget (home is only 1600 sq ft).This project would be a bigger scope than the two flips I have done, so I am wondering, what are some of the hidden costs and challenges to doing a conversion like this?