Purchase price: $235,000 Cash invested: $71,750 Full gut and remodel of a primary residence to live in.

House projects ranging from a full gut, electrical plumbing some framing.

Unless you find a very good deal (maybe a fixer or gut rehab or maybe teardown and rebuild, or a divorce or estate sale),  cashflow and GTA are not phrases that typically go together these days.

We'd like to do the renovations ourselves so we can: learn how the guts of a house work to become better investorscapture more of the equity with our sweatpay for the project as we gosave money on material costs w/ CraigsList and Restore purchasesbecome more flexible, capable humansWe also think it would be fun.After 2 years, we will try to sell each unit individually as a condo.

Just know that if the relationship goes bad you will end up owning a property with someone that may hate your guts.

My instinct is no, but I hope I am wrong because if it were possible it would make a lot more of the properties in my market make sense from a numbers standpoint.Curious on your thoughts!

This is assuming property C will be a total gut job. 

This is a full gut. 

Listen to your gut--do not ever rent to someone that has not been to the property and inspected it. 

The guys that will take the ugly duckling, gut the kitchen, bathrooms and anything else that needs gutting and yank that home into the 21st century.