I purchased it with a HELOC so higher interest debt until I can cash out refi.

This is when the Realtors come out from the shadows and say their market is best.To be honest you can make it work in almost any market, red or blue.

Acting quickly on unique opportunities, such as stepping into a deal that falls through, can lead to valuable investments.

Acting quickly on unique opportunities, such as stepping into a deal that falls through, can lead to valuable investments.

I would keep and hold it for the long term, unless you can deploy that money in a much more productive investment. 

From what I see on the market, houses are cheaper than most areas in the GTA while rent is still relatively high.Especially if you can find a SFR and convert the basement into a secondary suite, will definitely cashflow positive.

You can review all of the properties up for sheriff's sale through this link (https://salesweb.civilview.com/), but there is a lot to know about how it really works.

Once I close I will be out of capital for a bit until I can get enough saved for another down payment.

can someone tell me which builder would allow investors to buy their house.

An agent/broker/wholesaler found them and needs paid so it's probably not a homerun deal, but base hits can add up.