Most investors would probably calculate 8-10%, so maybe another $690 per month.Next, I don't see any expenses related to sewer and water, or other utilities.  

The property is on a water well system and the well has run dry22.

All the downspouts were routed into it existing drains so there was no drainage or water issues.I am not sure what you mean by SIP but that probably means that we didn't have to do it!

I like to compare my actuall Real estate board stats to what they say, I find its usually cherry picked data.If the Toronto Market starts to fail the ripple effect will start to been seen on the outskirts of the GTA first and foremost, as those values are based strictly upon lack of affordability in the city core.Most cities with their own economy will weather the storm with ease and see little to no negative effects, Brampton, Missisauge, Cambridge, Hamilton, Kitchener and similar areas will see mild stagnation if not slow growth.Places based purely on accessibility with little employers in the area will get hit the hardest as the Toronto market slows down or sees negative appreciation people will buy in the city core rather than an outskirt.

Call the power and water company to verify the units are up to date on payments.  

Tenants pay water/sewer/electric/heat. 

I have already turned on the electric and water.

I'm new to this but I'm not afraid to step out and not only test the water but get in it and swim.  

I'd be using the auction service purely for access to the data and having them check title.

Michael, If the lots can be re-zoned, who is your customer and are they willing to pay 10-20K for a lot will  lots with no sewer, water, electrical hook up?