I'm also beginning to take a lot of notes on building systems for each stage of process - selecting/assessing, financing, fixing/renovating, managing, etc.

I then want to renovate it, rent it out, then sell it in a couple years. 

@Amadeus Hladun where do you intend to get the renovation funds and do you actually have the skills to estimate correctly and execute a fairly major rehab ??

Fire damage can be minor if it isn't structural or it can force a tear-down or major renovation. 

I got a call and contracted a house for $120k that needed about $20k in renovations and would sell for about $200k.

I find the transition from sales to investment is not quite so great there and commissions are larger.

I've never heard of this before, I thought 203k loans were only for renovations of existing homes.

It is all in or all out kind of thing especially on larger commercial.Anything sub 1.5 million and below is more mom and pop small town type stuff.

I am looking at a value add property in Calgary. 27 units, 50% vacancy. 5.25% cap rateCurrent EGI 140,000$, operating costs of $93000.Estimated renovation 1.5 MThis valuation is throwing me for a loop.

Any advice on where to source inexpensive materials for general renovations?