From what I understand though, isn't the vacancy period during turnover from commercial typically pretty long?

He is legally bound to send you a factual, written report.

And the seller would have to report any capital gain on their taxes for that year But since he has renovated the place from top to bottom he would fall into the "significant renovation" rule and if a traditional buyer bought the house for 200,000 then the buyer would also have to pay 30,000 in HST?

@Brian Quigley  Typically if you are not looking for bank financing your progression would be private individuals then hard money.  

The closing company I typically use doesn't accept bank checks for cash closings nor above 50 or 100K.

There are dirty people out there who will try to make a bad deal look good to a buyer (another investor typically) and try to get some money out of it but if you can see that your wholesalers and just starting out or is just off but has good morales and really try to bring you good deals then it would help if you take the little bit of time to teach them what you are looking for so they can be your best wholesaler and make you lots of money by having the right numbers...

The best rate I'm able to find on $449,000 is 4.75 paying 2 points.Can the bank typically do this as two loans? 

I would also request a VERY detailed background history of the dogs - most people who are trying to "beat the system" don't go the whole 9 yards of building a credible vaccine / vet check ups report.

my understanding is that brokers typically first shop deals to  investors whom they've had previous dealings with, then to other brokers in-house, then to the general public. 

Also, what is typically the difference between a sellers license and a brokers license?