@Pete BarrowThe market we live in (Chilliwack) used to be affordable, as of the last 2-3 yrs things have really taken off and purchasing any rental properties in our area simply do not make sense, that is unless you are putting down a very large down payment to bring mortgage costs down... but we have recently noticed things have started to cool off and pricing is taking a bit of a correction.

@Tony Marcelle Okay, to be frank....you have no business trying to wholesale with no money, and apparently a lack of knowledge.  

But this is not what I was asking about.I just need to know what we can do to be able to go through with this deal withoit testing/fixing now, before sale and still be be protected legally - short of buying the house, testing, finding there is some lead somewhere beneath the many layers of paint this house must have collected since the 20's (it will be for sure), kicking the renter out to fix the problem by paying a lead cert contractor to strip off all the paint (large expense).We cannot do this now - or maybe not even later.The seller (current owner of this house) bought in 2014 without testing and simply disclosed "I don't know". 

I can't see passing up a good deal because of a silly thing like lack of funds.

I’m hearing that a corporation is better because there are so many tax benefits and loopholes (for lack of a better word) with a corporation.

and the relative lack of rentals, you'll have no trouble getting market rents or higher going to regular route.Best of luck!

Even in the best case scenario, the ROI does not justify the large capital investment and relative lack of liquidity as compared to my stock portfolio (where I have more knowledge & risk tolerance, even in volatile markets). 

I had a mentor to help me at times before I felt comfortable- If you lack this I would suggest contacting a realtor and giving them your business if they can get a higher rent.

Tenants will know you mean business from the start, and those who plan to break the rules will simply move along to a friendly landlord.

It's far more effective for me to simply cast a wider net than it is to beat my head on the same rock hoping that the 6th time I do it I won't get a headache!