Undeveloped land for the size it is carries taxes of 2% which isn't bad.

Not bad for a 30 year old guyAlso, follow this plan and you will be a millionaire before 10 years.

I started to think that we should use this very unfortunate situation as a learning tool for us by looking at it as an "investment deal gone bad" and doing what we have to do to get out of it.

Then the bad market hit.

If it is REALLY BAD, you may have to prime with Kilz or some other primer before you paint.Get an Ozone machine now if you plan on being in this business for a while.

A lot of brokers and agents tell me 15% CMHC is difficult, but it might be bulshit since they ay want bad deals to still sell and not fail on CMHC financing.

And additional space is always nice Also, not a bad alternative to renting a smaller place and renting a storage unit that's inconvenient to access.

That's not too awfully bad...so is the best strategy to refinance out of the FHA into a conventional, so you can eventually drop the mortgage insurance..?

If the seller just placed some random tenants in order to have the place occupied for the sale, or if the tenants are bad tenants with a poor payment history or in need of eviction it would subtract value.

I've done my best to start calculating the numbers for properties I'm looking at in my spare time, but I don't feel comfortable making a deal when so many deals appear to be bad on paper.