It will take 3x longer and cost 2x more and you will have horrible quality. 2.

The deal was valued based on a recent sale of the local Holiday Inn, (only real competition for us) which also needed to undergo renovation.

I spent about 35K fixing it up and was all in about 50K with taxes and court costs etc. 

The rate, the sale pay the closing cost and the grow of the area What was the outcome?

I am using a Heloc to fund my real-estate purchases and also to cover the rehab cost. 1.

I’m not sure of the laws and processes in Canada, but here in Florida if the tenant’s use of the bag damages the floor, then the repair costs may be able to be claimed from their security deposit.

Your DTI will get maximized and you'll be short capex & reserves when the cost of capital is going to be higher the next 10 years than the previous 10. 

I'm not sure what the renovation cost would be to set this up for a rental.

Although AB-968 doesn’t specifically mention “licensed” contractors, the state of California already stipulates that “anyone who contracts to perform work that is valued at $500 or more in combined labor and materials costs must hold a current, valid license from CSLB” (source: CSLB).With AB-968, if work is performed by an (un)licensed contractor in an amount that exceeds $500, disclosing that entity’s or individual’s name and contact information becomes a legal requirement.

I think the math is off his cash flow from his numbers is more like 1800 a month.. not 780 he mentioned. . and the 700k equity will be whittled down with sales costs no doubt.