It's not so much that what you're doing is improving inventory (because clearly you are) and yes - intuitively you would think that you would be exempt from sales tax.However, the issue isn't whether it's inventory or not, the issue is whether the end user is charged sales tax.  

Hey @Claire Batraville, I would definitely agree with @Lucas Machado.I'm sure you can find condo's in that price range, but you'll want to make sure your agent is doing good due diligence:You'll want to see: the condo budget, any planned HOA fee increases or assessments, upcoming improvements, delinquency ratio, etc...  

Working on improving your credit score is of course important.

If you want to improve your cashflow another 10%+ you should self manage.  

You should make this one of your first task when you settle in with your broker.You could also search YouTube to find educational videos on how to prepare a CMA. 

Also, tell me anything we could do to improve our chances.

5 seconds into that report Claude just emtnioned;"The Ontario government will spend $31.5 billion over the next 10 years to improve transit, transportation and other priority infrastructure projects.

Also, if you have a 401k you can borrow up to 50% of it's value from yourself, pay yourself the interest and get a 5 year loan on that while you improve your credit.Another option is doing what's called a 60 day IRA loan.  

Is that based on an appraisal with your improvements factored in?

Mostly, these buildings are well maintained and many investors see this as a “value-add” investment opportunity because through renovation and common area improvements, the property can be upgraded to Class A or a Class B+.