(Government qualifications requirement)The so-called "stress test" determines the borrowers ability to qualify as follows.If  the mortgage loan is to be insured, the borrower must qualify at the higher interest rate of either:the Bank of Canada’s conventional five-year mortgage rate (presently 5.34%)the interest rate you negotiate with your lenderIf the mortgage loan is uninsured, the borrower must qualify at the higher interest rate of either:the Bank of Canada’s conventional five-year mortgage ratethe interest rate you negotiate with your lender plus 2%Regardless, interest rates are still considerably below their historic range of 7-9%.

That tends to put me at 80-85% of most asking prices with all my expenses and 20% down conventional financing.Kevin

Getting prequalified should always be the first step though, you can just ask the brokers for your max budget based on your income/debt, and down payment size (20% down if you’re going conventional 30 yr fixed, plus ask them what they want to see in reserves after close.

I'm talking start to finishAppraisal, underwriters, inspection, title search, etc...From a real bank for conventional loan.Hard/private money is faster which could be more likely for you a flipper...BUT if you're selling to FHA or similar it's going to be closer to 60 days to close on the buyer side...

Do municipalities allow us to own property in their jurisdictions without charges up property taxes?

-i would bump cap ex up to 4-5% atleast-repairs need to be atleast 10%-vacancy should be closer to 10% because of the number of units-Im not sure what that $40 tenant screening charge is forGenerally speaking, a lot of on market multi's won't be deals to the average investor.

If the apartments are contractor grade and your property is upgraded, then you can potentially charge more.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

If market rent is $850, you need to charge $850.

It's not easy to get a conventional or FHA loan on an REO.