But, like you said, if a deal came up that I can BRRRR and leave minimal capital in the deal....and it was a C class area, I'd probably take it.So there's your answer, and another question for you to consider: what will re-sale look like in that area?

Some major capital expenditures were recently done and seems to be in a good area.

I started out wanting to wholesale to build capital, but I am not having any luck with finding a deal.

So the deal is not as home run as it seems, though still a solid investment if you don't have to knock out a bunch of capital improvements right off the bat. 

Personal comments I'll add in addition to his:Although managing 10 units may be daunting for your first property, that could free up $430 in monthly cash flow, which would significantly increase (almost double) your estimated cash flow in your analysis.Also, given the numbers you have in your analysis, your capital is going to be stuck in this deal.

This is NOT the case for an investment property as capital gains are always due.2. 

I am currently working on building my portfolio in Ottawa and the surrounding capital region.

At the same time, I agree with @Kath Marie at some point you will need to build up some capital to deploy.   

Still trying to build up some capital by doing some flips first.Following for others' advice.

In my experience, for a ground up, high risk deal like this it would be a waterfall like the following;-  8% preferred return for investor- return of investor capital- catch up contribution to sponsor to equal 8% of their investment- something like 30-70 split till 15% IRR- 50-50 after thatThere would be some 2-5% sponsor fees off the top.That is what you can get from an experienced sponsor with decades of success and billions in management   If you want some examples check out the PPM on CrowdStreet or RealCrowd to see real life examples.