Thank you Max and Jon, I kinda caved in and offered a $200 discount for a year then the rent goes back to $1500 a month. 

So, unless the market dramatically softens in the next few days, I won't be able to wholesale the property at a discount.

The main disadvantage is wholesaling in the expensive Canadian markets is what Roy mentioned - it is difficult to find deeply discounted properties.However, there is a big advantage.

Unless you’re able to purchase the land off-market at a discounted rate, I don’t know of any “trendy” areas with land that cheap.

I’ve heard a 20% discount promotion code mentioned a couple times, but I can’t remember it or remember what podcast it was in, does anyone know that promotion code?

@Reno Law Your broker is correct with CDOW being 7-8 days a typical move in ready home is not going to be something someone would consider giving you enough of a discount to be able to wholesale it? 

Does the business writing the loan discount their income for the year for the amount of the loan and thus taxes are lower?

Hard to find properties that you can buy at a discount when seller's can normally get the price they're looking for by listing with a realtor (assuming they don't overprice it). 

I wouldn't discount any source for a deal, especially your first one.

If you buy at a discount (shoot for 70% of market value), then you can renovate while you live in it.