Also, most decent STR property managers will be happy to offer projections for properties, or even realtors who do a lot of STR business as well. 

There are a lot of programs available to help with renovation costs being built into the loan on a primary residence purchase.  

What are the operating costs associated with this ?

We initially met with a couple builders my father has worked with previously and are currently awaiting for detailed breakdown of cost estimates.What would be recommended for taking out a loan for this build?

I’ve already made some calculated evaluations in terms of the expected operating expenses, the mortgage, closing costs, and a 20% down payment. 

Veterans can finance a loan 100% including closing costs without PMI.

If the Seller agreed, there would be some closing costs, and the wholesale fee to comeup with.

Consider renovation costs and potential for adding value through improvements.Resources and Tools:Local Real Estate Networks: Connect with local real estate agents, property managers, and investors for insights into specific neighborhoods and market conditions.Online Tools: Use real estate websites and platforms to analyze property prices, rental yields, and neighborhood demographics.Tips for Canadian Investors:Tax Implications: Understand tax implications for Canadian investors owning U.S. property, including withholding taxes on rental income and capital gains.Legal and Financial Advice: Consult with a cross-border tax specialist and real estate attorney to navigate legal and financial aspects of investing in the U.S.If you would like to discuss further/need financing please feel free to reach out.

Has anyone had good or bad results from trying out credit report and score businesses that aim to improve credit and help in the journey to gaining a pre approval for a mortgage?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!