I ended my w2 employment on 12/31/15.

Say after a week or two you have a potential buyer, but said buyer can't qualify for a traditional mortgage for whatever reason (possibly self employed).

This property fits the bill for us in terms of location (proximity to work for me) size and it seem like the numbers are working in our favor.

There are mid-size brokerage firms that do great training and offer compensation split somewhere between the KW/L&F and the flat-fee brokerage co.

I would verify with employer if possible but this may just be for entertainment value as this couldn't be verified until after he lost his job or moved out. 

It's almost 3000 sq ft and priced at $115k in a neighborhood where rehabbed houses of that size can go for 200k-215k. 

That leaves me $750 for my loan and cashflow and thats with a good size downpayment.

Frankly, I'm a little perplexed as to why you didn't choose this option at the outset as the savings in Self Employment tax is likely to be somewhat significant for somebody who has potentially so much profit.  

I like to compare my actuall Real estate board stats to what they say, I find its usually cherry picked data.If the Toronto Market starts to fail the ripple effect will start to been seen on the outskirts of the GTA first and foremost, as those values are based strictly upon lack of affordability in the city core.Most cities with their own economy will weather the storm with ease and see little to no negative effects, Brampton, Missisauge, Cambridge, Hamilton, Kitchener and similar areas will see mild stagnation if not slow growth.Places based purely on accessibility with little employers in the area will get hit the hardest as the Toronto market slows down or sees negative appreciation people will buy in the city core rather than an outskirt.

I'm a smaller size brokerage in the Seattle Area.