@Daniel Drewyor If you can hook up to city water include that number if not, assume you will need a new well and septic and use that number.

Cleared everything with county, water, sewer, and Smud, and now we're getting the plans drawn up.

My first filter would be comparing the cap rate of the property [this is basically the operating margin of the asset] with your weighted average interest rate [ for example if you borrow $80k @ 3% and $20k @ 9% your effective interest rate is 5%] If your effective interest rate is higher than your Cap Rate, the investment doesn't make sense, at least in the short term.

If you're trying to get stats for specific parts of Calgary, the only way to really do that would be looking at available listings now.Rentfaster is an excellent tool and if you filter thee results to what you're looking to purchase, you will get a very clear idea of what you're likely to rent your property out for when you purchase.

Preety much both bathrooms have mold and cabinets are all destroyed with water damager etc so we have a lot of work in 10 of thousands of dollares. 

My ground floor tenant had minor water damage after Ida ripped through NY on September 1st.

Financing: Conventional 30yr fixed at 4.75%Purchase price: 215,000Down Payment: 43,000Loan Amount 172,000Closing costs: 3,000Total outlay: 46,000Income:Monthly rental income:  (700+700) = 1400Monthly expenses (please critique my % allocations, based off BP calculator recommendations):Mortgage: 897.23Vacancy 5%Prop Mgmt: 8%Cap Ex 8%Repairs/Maint: 8%Water $60/monthProp Tax: $125/monthInsurance: $77/monthResults:Fails 1% rule (Needs 2k in rent or 140k purchase price)Fails 50% ruleCash Flow -$165CoC Return -4.3%https://www.biggerpockets.com/...Bad deal as is, huh? 

Post all your numbers including your down payment, or will you pay cash.It sounds like a super great deal for a person who knows how to do the project with the least amount of time and hassle, but the major problem may be the rents are to low to cover future expenses like the cost to clean and make repairs when tenants move, for water heaters, furnaces and repairs, roof repairs, etc.

It had a water leak after purchase, and so we remodeled 70% of entire home.

Are you paying the utilities, if so install energy efficient appliances/LED/low flow water spiciest.