We're still early in the option period, so we are not sure if it's permitted yet.

We are still farming around which city we want to buy our house.

I recently teamed up with my friend Blake, who is a CPA working in the Memphis area, and we are ready to start investing!

I would agree with @Chris Muller Kelowna is a great market for investment, it is getting more competitive but we are still able to find deals that meet our requirements. 

Also, I'm a little skeptical of buying any rental properties right now, because we are pretty much in the top of the market cycle.

I've never bought a house before, and i've never had an income to be able to be picky about my living situation, so i really have no idea what amenities to look for, and even worse, no idea what large ticket items to look for. obviously roof, foundation, electrical, plumbing - but what indicators of those can i actually inspect on my own and be able to see if this house has any major red flags? 

We are actually in the process of downsizing and moving into a duplex we purchased.

It doesn't seem like you're in a position to shop, so just something to keep in mind for future reference.Also, when you're talking about a 30-year fixed loan, if one lender tells you they can do something that several others said they cannot...it's a huge red flag.  

@David Dachtera  first course of action is to simply and I say very simply.. go to the county or city .. talk with the planning department.. and make sure the lots were recorded as final plats.. and are legal lots of record. just because utls are in does not mean the plat was recorded.then see if there are any other red flags.. then go to public works ask the same questions.then go to the building department and make sure they don't have them flagged.

@Matt Brechting sounds like we are peas from the same pod, just separated by a few years!!