Purchase price: $1 Cash invested: $200 My first property I purchased it was a fire sale literally a burned down house it was 75% fire damaged.I was bull dozed due to lack of finances I learned alot from this investment.

Unless the building is still burning, it should be pretty easy to figure out once you take a look (cost of a new build + demo costs).  

You don't want to get burned in this market.

Too many transactions too fast - burned up by transaction costs.

It's all fun and games until a tenant burns the property down and/or floods the property by doing something that they should not have been doing.

Were you burned because of the bad candidate?  

@Sacha LaCoss it burned your apartment down, so yes it is dangerous

It's just that we turned down OTHER Sec 8 applicants as we held the unit open in November, waiting for inspection from his housing agency, that really burns me. 

There will probably be mentors there to tell you stories of how they got burned and what not to do and there will also be people there who need money for their deals.

I'm sure we all know central bank rates are quite low in Canada and the US, and I don't want to get burned if they go up in real terms at some point.