Bigger pockets is so great but it's more difficult to find people in Canada so let's use this thread to have some discussions and learn from each other!   

There is so much information it feels like I’m drinking from a fire hose.

This situation is so dam if you take it and dam if you don’t touch this money.  

If the expenses are less than 30% most likely they've left out a bunch. (30% is on the lower bound - expect higher) Or mom and pop are doing the work themselves and not counting it.Cap rate can be the siren's song inviting you to doom since the story it tells is sometimes incomplete.Check out what your Year 1 Yield on Capital is (so you factor in all deferred maintenance and cap ex - all your equity, not just the 'price').

Getting the right forms is so important, and having a professional to answer questions that won't charge you a percentage or hourly fee is a perfect match for these kind of opportunities.

I’ve seen arguments that make lots of sense to use a C Corp for flipping since the corporate tax rate is so low right now.

Now, I have to BUY and REHAB them at what my conventional LTV maximum is.  So

@Michael BaumWhen you put in your dates on Vrbo/Airbnb it actually averages out the rates for those dates and displays what that is so it’s not confusing anymore or give you that bait and switch feel.

You got it.Reason why I say make sure you have the money/financing first is so you dont look like a jerk to a seller and your agents if you can't close for whatever reason.

They are either straight forward with you on what you will see, or you will see them hesitate, pause, look for excuses and otherwise stumble on their story of what is on their credit report and why their score is so low.