Many reasons here, but the most common is they went into deal with short term floating rate debt at a market peak.

Hi @Alex SilangAlways ask if they are direct to seller, if they are not, you'll want to know how many chains are in the contract.

Not having done your 2023 return will in all likelihood 'hurt' you somewhat in the short term because lenders will want to see it.  

The short answer is No, you don't need it.

BRRR, short term rental, mid term, long term, house hack, etc???

Cap Rate is a term only relevant to commercial properties.  

Ontario is pretty complexed in terms of development

https://www.biggerpockets.com/blog/brrrr-loans-what-are-the-...Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

There is a definite market though.P.s. don't fool yourself with the market near term.

Russell I had my first contract come in on one of my new builds and the commission was simply one of the line items in the addendum.. it became a negotiating point and thats what I did as the owner/seller I did my counter and part of it was a commission adjustment to the amount the agent put in the offer..