We estimate 23k in rehab costs.Phase 1Water & Furnace services & misc plumbing issuesInstall electric heat in 1st floor front & 2nd back floor rearInstall spring loaded door hinges, replace locksets in all unitsinstall & new door in front floor rear unit Phase 21st Floor Back UnitFlooring & paintLight fixtures, new countertop, hardware for cabinets install fan in bathroom, new baseboard in kitchen1st Floor FrontUnitFlooring & paintLight fixtures, hardware for cabinets,install fan in bathroom,miscPaint common areas Phase 32nd Floor Back UnitFlooring & paintLight fixtures, new countertop, hardware for cabinets, install fan in bathroom, new baseboard in kitchen2nd Floor Front UnitFlooring & paintLight fixtures, hardware for cabinets, Install fan in bathroom, misc.Phase 4Re build Back staircaseInstall Smoke detector systemExterior paint

Put over 100k into the full gut, pushing through the 203k rehab for 7 months during peak COVID and finally I was two weeks out from finishing/closing out the construction loan and renting out the first unit, then I had to hit the reset, gut the place and start over due to soot/severe smoke damage from a neighbor's house fire.

You probably already know the codes regarding smoke/CO2 detectors for the fire inspection (if you are representing the seller) so that is helpful.Do know that a broker will be looking for business from you from friends and family.You are in a good area but there are a lot of summer rentals, I don't know how much money there is in that.I don't know how handy you are or how much you might be willing to do but property management is a route to look at.

GC 149th to 170th and 4 blocks east and west of the concourse, Bruckner Blvd west of the highway is already smoking. 

Smoke detectors working. 5.

Then the price-to-rent ratio is just smoke and mirrors to convince someone to make a risky investment.Think about it Ali, if a $1,000 rent sells for $50,000 in the 2% area then why would investors pay $125,000 for the same $1,000 rent in a .8% price-to-rent ratio area? 

You have the idea of material cost so you can deside who is blowing smoke.  

You are still probably close enough to the Big Smoke that housing prices are distorted - they are distorted in most of the country, but the closer you get to TO (or Calgaray or Vancouver) the worse things become

I think I've identified a couple of the employee "smoke holes", from driving by at various times of day. 

Aside from adequate insurance coverage everything else is just smoke and mirrors.