Hey Dominic - It really depends on your goals/strategy/current position...Are you looking for something turnkey or distressed? 

I focus on distressed properties and then complete the rehab to quickly raise the properties value.

But generally in Texas, a lot of the distressed houses that you pick up are going to need some level of foundation repair. 

For wholesale purposes you will find distressed properties that when fixed are still in affordable price ranges for end buyers especially with where rates are, or work on DSCR products.

Remember, many (if not most) off-market properties spoken about in the investor sphere are not going to be in tip-top shape, and are, by nature, distressed in one way or another, often times condition and deferred repairs.

Yes, understood - we're preparing for when/if that distressed opportunity does occur (2024-2026). 

Where interest rates are today I wouldn't use that HELOC unless you're purchasing distressed properties and are able to pull most all your money back out of the deal after the rehab is finished.

Canadian price bubble, high IR, stagnant rents due to controls all have to do with it.But if one is willing to go the off-market, distressed property and rehab route (BRRRR, etc) the potential seems real even in this market.

I'm not sure what type of property you're looking for, but I focus on distressed properties which are usually easy for me to see.

We sanded them , then beat on them with a chain , hammer and took a propane torch to areas , put on a clear coat and they turned out great , with a distressed look .