You need to know what design idea / concept you are going to install before you get rehabbing. 

Do you not think a correction is coming and this is all just part of the "scorched Earth" concept that cripples folks from committing to any form of investing.Would love to hear all input on this subject!

This is similar in concept to commercial loans with DSCR - "does the property service its own recurring expenses with money to spare?"

The contract part is simple really and will not be a big deal to fill out (even if you aren't sure about certain line items).  

We focus on 60+ unit buildings but the concepts are the same for 10 or 100 unit buildings. 

I awoke to the concept of REI a few months ago, discovered BP for a little over a month, became a pro a couple of weeks ago, have been reading, listening, watching lots of materials here (which by the way are awesome!)

Check the Ontario Act to be certain you do not have a similar regulation.Also check the act to see what are your restrictions on raising rent ... her we have the concept of a long term tenant (tenancy >5yrs) which places some additional restrictions on termination of lease and how rents can be raised.I doubt you can ask for a vacant park ... unless you were planning to redevelop the land ... even then, you may have to compensate tenants ... again, read the Ontario residential tenancies legislation.

I explained the whole concept of the rehab, but in the end, got nowhere.

This has led me to a crossroads as this concept has really begun fascinating me. 

Interesting concept.