I had a quote of 2.64% for a 4 year term on my principal residence in Canada just today.The US starts around 4% but then you have to add 30 to 40% for the exchange if I use Canadian money for the payments.So, ideally I need to borrow as much as possible for my deals and pay it off as the dollar improves. 

You cannot depreciate any improvments on the property.  

Alternatively, I believe I can sell the condo and break even in five years, due to improvements in the neighborhood and paying down the principal during that time.  

Since I wasn't growing up here in the U.S. my sphere of influences is practically none, so my start is a little rough.

I know most of you would tell me I should be pre qualifying leads before actually wasting my time to go to the property, but I wanted the experience of walking through houses, learning to build rapport and improve my sales skills.

Although I am not completely opposed to renovation I am looking for something a bit more turnkey which I can add value to through non structural improvements.

Goals are:1.) take a loan that someone else pays off, get tax benefit, build wealth through appreciation2.) get practice/become proficient in property management3.)

Then analyze potential areas of improvement after the dust clears.

Although for practical purposes you probably only work with this buyer once if they stiff you.Its customary in our market to bring great deals and Make NO commission selling it to your rehabber or builder with the unwritten expectation of list backs.. but you cannot force the list back.This is very true and applicable to agents who find builders infil lots they take no commish on the lots but list back the 500 to 1 mil dollar home.

We are aware of the permits, utilities, and drawings and such that needs to be done to make this happen and the approximate cost to make these improvements.