I’m a carpenter by trade and want to fix something myself but I cannot stomach buying a 1 bedroom cottage for $250,000 with a rehab loan.

Mostly things like cheese puffs, chips and pop tarts. 

I feel like I’m living in the twilight zone. This is my market and I’d love a second opinion!http://v3.mlsstratus.com/Live/Pages/Public/Link.aspx?Key=7a0f1b8ce75b416b8055d5548a8f9be8&App=MLSLI

We live in Thornbury, Ontario and have a second house in Meaford that we are renovating for a rental (potentially a 3 unit house)We have also just purchased a small 2 bedroom 1 bath cottage in the Blue Rocks Nova Scotia area.

Purchase price: $105,000 Cash invested: $5,000 3 Bed 1 Bath recently updated Cottage with 1.5 car garage and fenced in yard, full unfinished basement with two HVAC systems.$105k purchase with $5k down 4% rate for 30 years, 5 year pay off balloon.

In some cases that loan should include rehab costs.I am looking for suggestions and advice on the types of loans best suited to buying and holding single family homes with at least one additional unit on the property and/or 2-4 unit 1-2 bedroom cottage style units.

Done right, it would look like a small cottage in the back.  

You might not be able to afford a beach cottage (yet) but you can diversify your portfolio and find a great escape as well. 

It will cost you something to sell the home (think realtor commissions, title company fees, gov'ment cheese, etc) and it will cost you something to do the project (think holding costs, like the interest you'll pay on the loan while the project is happening)So, when you think of selling for $377,548 (if indeed that is viable), you'll want to take something off the top, say 7.5% to represent all costs of sale? 

Drum roll…goat cheese, of course!