Thanks True about restriction on the renting - but I assume you're working with a local agent, who knows the developments which you can rent.

Split premiums are rarely done in practice but in theory its nice to talk about them as it makes the borrower feel like they have choice but I've never had any borrower pick the split premium option when given all of the choices in the last 7 years I've been in the lending biz.

This is the first condo in the development to be modernized - not a single updated one has been sold (but all look good from the outside  - all brick).  

I want to use the BRRRR strategy to develop my portfolio, but I need to expand my knowledge of the market before can dive in with my first property.I look forward to meeting and working with the BP community.

I'm planning to keep going from there, I have a background in software development so I feel I am strong in analysis and so far I am enjoying the experience of researching investment properties, etc.

It would be nice to obtain some type of return while saving.

No plans to rehab, they'd just put down a deposit during a sub-development construction phase with the believe that (at complete) they could rent or sell them for a profit.

Thanks @Ash Patel very nice of you to reach out.

The property is probably a target for a developer, rather than a homeowner.  

Of course, eventually it'd be nice to live off some passive income via real estate investments, but I actually love my job and am not concerned with needing to quit or put all my eggs into the RE investment basket right now.