You will have to walk through your own detailed analysis and get back up documentation (e.g. contracts, bills) to confirm everything possible.A larger scale owner probably used more 'sophisticated' systems.

Has anyone ever rented to bob?"

They are going to look at how many debts you've had in the past, the nature of the debts, how long it took to pay them back, if you were ever late, chargeoffs, etc. 

There for if the seller wanted $200,000 for the property (renovated over 60-70%) - He would pay $6,000-$10,000 (3-5%) in realtor fees - Then who ever buys the house would pay $200,000 for the renovated house + $30,000 in HST (15% on PEI)?

One way or another, and if nothing else, someone has to evaluate the property as to the probable cost to bring it to an after-repair-value that matches the surrounding market's fair market value for comparable properties - before ever offering to buy it at "such a ridiculously low price" (as the seller will term your offer at first), let alone, before offering to sell it at "wholesale" to your buyer (i.e., so far below fair market price at retail that the repairs can be covered as well as your profit and the flipper's profit in its eventual retail sale -- or 'buy-and-hold-to-rent-out'er's profit before they would expect to get it rented -- plus the title search, closing, and any tax costs related to your purchase from the seller (usually split somehow) - and finally, the title search, closing, and any tax cost split with whoever buys it from you.Now, that someone could be you (you do trust you and your repair-estimate abilities, don't you?)

My landlord lives about an hr away which concerns me if I ever needed access to that in an emergency.

Further, I figure that with a larger building I can afford to have property management and would not have to worry about being physical present at the building very often.

The best thing I ever did was hire my sibling for 10/hour to keep up with all that.

If you ever have questions about real estate my PM is always open, my partner and I are always looking for other investors with whom to converse!

The same question asked a slightly different way: do you ever get off-market listings through a buying agent that doesn't work in the same brokerage agency as the listing broker?