we have a property under renovation in Delaware County in Pennsylvania.we hired a general contractor to fix home with contracted duration of 90 days to finish the project.

But if/when a correction happens we'll stop or scale back on the renovations and still cash flow (assuming other variables aren't in play). 

If it was built in 2004 and you don't need major renovations and you plan to buy and hold, I think you would be fine. 

Typically you'll need to make a larger down payment.

You may then get to a point where you feel more comfortable moving into larger multi family and will have the capital to do so.

After filling it with my purchased items a couple times it was pretty much a normal rehab.If it's a listing, you could try to find a cleanout company that will agree to be paid out of escrow, or there are lending programs that offer home renovation loans to fix up homes to be sold.Be careful working with wholesalers as an agent.

I've seen redevelopment corporations in the news but have no idea how profitable they are and if its feasible for a larger-than-average mom and pop investor.Thanks!

Renovated the park thats about 3 blocks away, and a new shopping plaza is under construction about 4 blocks away is near 3 major freeways and the houses around are all typically rising to the 500,000 plus price range.

Doesn't need much renovation for each unit.

I have no clue because you are in Canada, if you were in the USA it probably wouldn't be worth the cost of a company until the income is a bit larger.