After looking at the property today, we saw that it needs new flooring in the kitchen and bathroom as well as new kitchen cabinets and appliances (it's a very small kitchen).  

Needs new roof, pool, windows, updated kitchen, etc...

I wouldn't cheap out on the kitchen putting in a used appliance unless it looks brand new.  

Kitchener as I understand does not have such licensing fees.Jesse

I had 3 comps of properties sold (Giles/Dougall area for your reference) within 1 KM (all on the same side of the tracks and in the same area) that were listed at a RV ratio <1% and were old inside (older kitchens/bathrooms, as is, etc.).

been sitting on the fence awhile,  reading and dreaming and being fearful.  Finally stepped forward and got preapproved for a 30yr fixed FHA: 150k, with 6%seller assist and about 7k out of pocket to close.  However th...

Needs complete kitchen and bath.

So being near plumbing for a kitchen sink, washer, etc. doesn't help.

Based on the pictures of the house it will need a lot of rehab (no kitchen cabinets, no appliances, missing tubs, sinks, toilets).

A 203k is for owner occupants, but there is also an FHA homestyle loan that is non-owner I believe with a rehab budget of up to 35k which can include foundation, full kitchens, roof, etc.