Back to the regulations, I read them, I'm very good at reading and retaining regulations and statutes.

Try to see how much of that is actually in the property as retained value for you.

So between 10 hours of learning how to do my work at work, and then coming home to learn another 4 hours of real estate investing, I just hope I'm retaining enough information on both fronts. 

At this point the the city could ask for soil samples, retaining walls, I even had them make one of my customers fix a fire hydrant a half mile a way.

I could not possibly buy and keep everything even at this point of my investing.There are ways to structure deals where the property can be sold and an interest retained, and I have done that in several different ways mostly with options and equity participation agreements, but every once in a while, a huge cash infusion to the business from a retail flip puts the conscious at a whole new level of 'piece of mind.'

I set up one company with graduated administrative charges that were deemed to be earned and charged at future dates, this was a non-profit so the retained earnings were not taxable.

Do I need a real estate lawyer on retainer?

I would like to retain the property to rent after the rehab.Conservative Numbers: ARV: 180000Rehab: 60000Purchase: 5500070% Rule: 64%What are my options when it comes to exit strategies?

I would also advise you find a CPA who is familiar with real estate and with the CRAs Interpretive Bulletins (IBs) on lease options vs instalment sale and an attorney who practices real estate law as her/his primary talent.Where this is your primary residence, you also have the consideration of structuring the deal such that you retain the capital gains exemption on sale - normally when you turn a property from your primary residence into a rental, there is a deemed sale at FMV which establishes the new cost basis for the property.  

Prepaid deposits retained along with prepaid taxes or insurance premiums should be adjusted.