I am pretty sure that you are talking about paying $100,000 which is worth $100,000 - perhaps less, so no in-place equity.

Is it worth the maintenance and all the extra costs?

The Finance Minister announced steps to curb the influx of foreign capital into the Canadian Real Estate Market  (in which he really meant TO and Vancouver ... down east we are not really suffering from the influx of foreign money ... sure we lost a 50-unit deal a couple of years ago to a Chinese investor, but the property was not worth what s/he paid, so we'll see it back on the market eventually).That said, Ottawa is only removing a loophole which has allowed foreigners to purchase a residence in Canada, claim it as their principal residence and then benefit from the personal residence {captial gains} tax exemption when they sell.  

Or is it still worth going for?

How do I ask for help from someone to make it worth his time?

If we accept *and discover no other problems with the property* we will be in for 35k.The returns seem decent still, but I know that this house will probably never be worth more than 35 where it is located, and we would have to do  more work to get it there, so we would have more in the property than its worth.So run away, right?

@Mark Watkins   well the 20k was a dead give away to me.. any lender that is doing deals will usually have a 75 to 100k minimum... check out the scottsmans guide there will be a list of REPUTABLE lenders there and you will see very few make loans for less than 100k... now in the mid west I know you need them lower than that.. but as a lender and I have been one... its just a loser to try to make little loans .. you can't charge enough to make the risk even close to worth it..so when I see these guys say they make loans at 20k to 20 million  RED FLAG... 

I guess this too is just a numbers deal and if the project is worth it to split a profit, eh?

Buy the house worth $120k fixed up, but don't buy it turnkey at retail price ... buy it run down for $60k, put $20k into repairs to get a nice equity bump right out of the gate.

And not worth looking further in to?