Costs are usually very low. 

A tenant that keeps the place clean and has low maintenance can be incredibly valuable and cuts your repair and vacancy costs down quite a bit.Good luck hope it works out well for you

It isn't prosecuted against often so there is low risk as the wholesaler but if an issue arises, the listing agent could report what your agent was attempting to do and they could be in trouble with the state board.This is why most wholesalers write their own contracts, do their own marketing, and work with off market leads.WORD OF ADVICE: No many investors are going to buy a property from a wholesaler that is on the open market.

I was just reading through the thread here about low cost areas to invest in and thought it might be helpful to you, but then I saw you're in Canada.

Do the math.When the market is heating up then turn to quick profits by flipping homes. 

Thank you for the pointers, the strongest factor towards why I'm concerning a condo vs an SFR or multifamily is for the initial investment required. in palm harbor, there are plenty of condos in the lows 100s and even some under 100.

Income is low.

Having made a career the last 20 years in low balance deals.. you simply cannot price them like a normal loan..

The in-place rents for the cash outlay are pretty low, but that's all relative...the repairs seem excessive...assuming an ARV of $650k and cash out at 70% LTV lands all of your cash back in hand if you do not do the reno...use delayed financing. $525k all in with ARV of $650k changes things quite a bit...you can't pull all your cash back out, but getting $350k back may work...What is your possible appraised value as-is? 

The current spread is at all time lows, so finding deals is very tough.If you find a deal, hedge your long-term risk by keeping your loan to purchase low and using long term (10+ year) debt.