You'd be saving the $1300 a month in CC debt, and think about the higher interest rate you'd be paying on the a new mortgage because of your lower credit score. 

Also in terms of insurance claims do people have to wait for the claim(s) to be paid o before you purchase/acquire the property (land/lot)I am talking about a strategy I want to use in CA and I want to save money and have a lot of time I can exchange to get/acquire land potentially 

THe whole point is not to have to live in it for 2 years to save on the taxes. 

@Gustavo GonzalezFor those who are able to save more than $30k a year or have substantial liquidity (over 200k), being a landlord and especially flipping is a lot of work.

Ultimately doing a timely and reasonable job of protecting tenants by clearing snow and salting the surface area is what matters most. 

It will save your Dad's helper from falling behind on taxes.

Do you have any other advice for someone looking to ultimately begin syndication? 

No tenant has ever refused that offer from us in the last five years and required us to assert our right.Look, your tenants know that you and they are not in a relationship of equals, that you, ultimately, own the roof over their heads.

Most of my savings would also go into this deal and I wonder if it would worth it? 

. $$$2-Rent it out and use a HELOC to fund an owner occupied 5% down MFH-House has potential to bring in around $800-$1000 CAD per month in profit 3-Rent it out, move in with the family until I have enough saved up for another down payment.