Its extremely helpful and I appreciate you taking the time to respond.

And extremely unlikely your going to tie up multi million dollar land deals if you do not have POF and some serious deposit money . 

Bought a house in Brantford before the market exploded and want to BRRRR a property, but it seems extremely difficult to do given the cost of houses here.

In my PA market I've bought multi-family properties at between 2% and 3% (monthly rental income/property price); I'm holding out in the PA market unless I can buy a larger multi-family (I don't want a PM and will hire and train someone in-house if I buy a larger MF there).I wondered what y'all are looking for when potentially pulling the trigger in the market you invest in? 

I know enough to “get myself in trouble” I’d say and extremely confident in our ability to generate business despite a saturated market.

Answering this question is quite simple.They sell their house, now they have to buy another house in the same extremely competitive market they just sold in.So many of my neighbors are selling and "upgrading" their homes because it's a great time to sell, BUT it's not a great time to buy.

If you drop your price extremely low and renew at a higher rate next June you will have income and a better opportunity to fill it at better rate.

Aside from the market being extremely competitive, I also think I miss calculated my net income from the sale of my house. 

Even looking at homes with work needed the asking price is extremely high.

But it can get extreme...