My wife and I have a small start-up wholesaling company with very effective (surprisingly effective-to be honest) marketing that allows us to get some great deals all over Los Angeles county.

If you have no money, no credit, and no experience as an example then a seller doesn't want time wasters.If a buyer has something to work with a seller might consider engaging them to see where it goes.Time is money and we all have so much of it whether you are worth 1 dollar or 10 billion.

Therefore, I feel as though this first deal is a huge obstacle to overcome, but once I do the snowball effect will take place, hopefully.

I HATE debt but that mindset enabled me to build an extremely high score that, ironically, I now use to leverage my credit cards for real estate (this is something I do and wouldn't necessarily recommend it to anyone as you have to be extremely disciplined to do this effectively).   

I even write my own very effective 3 page hand written yellow letters...and have done a few for a couple other wholesalers :) I have to say I love everything about REI and writing my own ebooks about topics pertaining to real estate...

There will be deals in Alberta, but likely not until owners are feeling the full effect of the drop in oil on the local economies.

Charging just the banks a negative rate could have the desired effect of stimulating banks to loan money if the economy is really struggling.

Sites like Zillow and RentOMeter say that my ask of $1400 for rent is near the top of the market for the area, but still reasonable for a unit of this size - and that is even without the basement.So does the basement effectively get thrown in for free?

I have been building capital to the point that I think I'm ready to start investing and could use a bit of guidance on how to either take advantage of this hot market or how to effectively invest in neighboring, more reasonable ones.

The current owner is shopping it around for 1.35m (7cap) and the proforma numbers are as followed: ANNUALIZED INCOMEActual MarketGross Potential Rent $191,639 Less: Vacancy ($5,749) Effective Gross Income $185,890 Less: Expenses ($91,497) Net Operating Income $94,393 Debt Service ($65,592) Net Cash Flow after Debt Service $28,801 Principal Reduction $17,403Total Return $46,204 ANNUALIZED EXPENSESActual MarketProperty Management Fee $9,582 Replacement Reserves $5,250 Building Insurance $6,712 Maintenance $12,560 Taxes - Real Estate $36,296 (37220 w/o exception)Utility - Electricity $2,453 Utility - Gas $12,369Utility - Water/Sewer $6,275 Total Expenses $91,497 Expenses Per RSF $8.39 Expenses Per Unit $4,357I did some additional digging and found that they offer Wi-Fi for the building (I talked to a rep and said providing service for a building that size should run 285 a month) and the trash was left off which runs about 285/month.