We hardly ever use the bathroom at all, though it seemed like a good idea at the time.

Living in Indianapolis for 62years, I find this hard to believe.

@John Claborn Just my .02$ here but if the garage is converted, take a real hard look ar your comps and make sure that you're comparing with other properties that do not have a garage or houses that have had garages converted to come up with the ARV price.Look for contractors who are hungry and negotiate a better price is 1 way to save money on the reno.

I interpret that to mean that person is hard to find, which means it's unlikely anyone else has approached them so if they're interested in selling I can [hopefully] be the one to get the lead. 

I was curious as to how hard money lenders make the decision on how much they will lend to a investor?

That was the route I took along with hard money loans in order to to flip houses early on.

Randel:Wholesaling, while it can be done, will be a hard business in Canada.  

It's hard to do that when buying at the top of the market IMO.Good luck!

Having this in mind, I'm having a hard time deciding if I should purchase a more expensive (160k-190k), new property Triplex (built within 2 years or purchasing a property that is cheaper (120k-150k), already tenanted but it is only a duplex. 

I've dealt with many lenders, both commercial and residential and the good ones are hard to find but worth keeping around when you do.