Bigger Pockets has been an encouragement to expect to develop relationships with others involved in real estate.Something else I have loved about Bigger Pockets is that there seems to set new horizons that I didn’t know I could dream about.

You still need to be making the repairs, maintaining the building, and staying involved with your tenants.

It seems to me that most people think only rich people get involved in real estate.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Banks will most likely will need a General Contractor to get involved with the repairs on some things, and make sure your numbers work.

Is there any GST/HST involved in purchasing an existing rental apartment investment property other that the provincial land transfer tax?

My guess is real estate people frown on these because of the problems involved, and when you run into trouble, blame them for selling you the property.

@Tania GhoseiIf you get involved in auction buys going after occupied foreclosures looking for the big score, you have to have deep pockets for contingencies like these.Your plan to get the eviction AND subsequent renovation AND showing AND closing done in a whirlwind two months with or without an attorney in a city like DC isn't particularly realistic.But this is how I would try: show up at the door and offer cash for keys.

If I were you I would certainly have a well qualified real estate / securities attorney involved in the venture.

With so many parties involved in a real estate transaction, the waiting is the hardest part.