Since a security deposit is calculated in what is owned / returned, I would want to be very careful.

@Eric Van VlietEric,I have completed quite a bit of Investment property rehabs and take care of projects for property managers in Kansas City.

I suggest you carefully think about flipping condos in Montreal.1.

Everyone we have networked with says we must have skin in the game to do any kind of joint ventures/learn from them or even join a team, which we would love to do, however we basically gave our life savings to a family member to deal with a health battle.

I would be careful to vet the properties to ensure you can actually rent them.

The seller should consider how the asset is currently performing, rather than solely focusing on the pro-forma. also be careful of flood zones and be aware that if you are buying in Hoquiam, landlord are charged water from the city directly and you have to absorb or bill back tenants, which can be a pain.   

He may need some care and discipline in his life.

Alternatively you can use private or hard money for both the purchase and the rehab but you’ll most likely need to have skin in the game and put down 20-30%.

I would be careful to project, however if you can add value that is great!

Be careful to read about broker and other fees, or you may end up spending more than you expected.