Post Dodd Frank sellers have continued the same bad practice of selling houses to occupants with financing at selling prices that are way high, can't be justified via any type of 3rd party valuation (appraisal, zestimate, tax value, even recent sales in the same area).   

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.

The reason I say this is that no matter what your remodel if you are doing a lot of the work yourself (way to max out equity growth) then maybe look for an even larger remodel than you had thought about? 

People even do this in Vancouver though it must be extremely challenging.  

no one wants to hear that but it's true.i have done a few, i did one an hour away and even that was painful.happy to answer any questions you havenot trying to be discouraging, just realistic

I’m currently leading a luxury condo project in Cabo San Lucas and looking to expand my knowledge in real estate syndication.I’d love to hear from experienced professionals about:✅ Best practices for structuring a successful syndicate✅ Key strategies for raising capital effectively✅ Navigating the legal and financial aspects of syndication✅ Lessons learned from successful (or even challenging) syndication experiencesI’m here to learn and connect with like-minded individuals who have expertise in this area.

You’ll get a better return over the long-term by putting your money in the stock market.

Quote from @Ruben Diaz: Good evening team!

I’m curious how they will think I’m eligible for another mortgage without enough “income” for the risk even though I will be renting it out. 

HVAC move to attic to replace package unit and other side replace fan and heater for about 20k8. redo plumbing work 20k9. spent 10k to fix sagging floor issues by putting concrete blocks in crawlspace.There is big neglected strip mall in back as attached with loud noises and some weird smell of tobacco etc. also has big dogs barking at people even if I go to the corner of my backyard lot.There is one bad neighbor who has big dogs always barking who elevated his backyard and rain water runs naturally towards my sideBig trees other side in neglected waste land which I think belong to strip mall owner behind and city also pushing some rain water in to that waste land.I am in dilemma now1.