I'm an engineer by training and put a lot of stock into mathematical modelling and analysis.In many aspects Canadian real estate is not that different than U.S.A. real estate, but there are some significant differences: the national market, and most individual submarkets, are smaller (~1/8th the population); prices are higher (we did not experience a corresponding correction in 2008/2009);taxes are {generally} higher;lending is different: {mortgage} lending rates are lower; mortgage terms are shorter; qualification requirements seem to be a little more stringent.Le Bon Homme Sept Heures is a fictional folklore character used to frighten children in an effort to make them more wise .... there is a similar character in English, but when I wrote the above, I could not recall the name ... and I'm still drawing a blank.

What are the major industries driving the economic engine in that city and msa?

I am a worrier by nature and I don't like risk, but frankly, there is risk in everything.So, my current situation is that I have 1 rental, about to refinance back out 30 yaers to go to a positive cash flow, and I am sitting on 60k in cash and a 2002 trans am ws6 with 18k miles that I bought 2 years ago for 20k in minute condition that I'm willing to sell and will sell so I can be sitting on 80k in cash to buy another rental or two.I am an engineer by heart, and so I know that i need to make a business plan, crunch the numbers, and get my business plan all together before I start buying anything. 

If the zoning and lot size allow you to do a split, you can go talk to a civil engineer and ask what it would cost, etc.

I'm an engineer by profession and I got started in real estate investing about 1.5 years ago.

We both have engineering degrees and spent almost 20 years trying to work our way up the corporate ladder because we thought that was what being successful was about. 

I worked for summer apprenticing to work as a diesel mechanic on yachts and that was a blast, but besides that the beach is not my thing.

I spent six years in the United States and have a degree in Mechanical Engineering.  

I'm an electrical engineer and have worked for some of the big biomedical companies for almost 20 years.  

@Terry Burger , For a "regular" house on a "regular" lot your looking about 7 bucks a foot +/-    For this type of situation I would consult with the municipality, my engineer and my plumber on the EXACT parcel of land I was looking to develop.