If you need 50k *now* (well, 30k-ish after tax), a flip looks very attractive.

The ever increasing property tax as well as home owner's insurance premium, and the stagnant rent, is not good for cashflow. 

I don't think you can say liberal = high property tax because my property tax, as a % is way higher in Houston TX than it is on my home in San Diego, CA.That said, I wouldn't invest in blue areas because for me, I just can't stomach the tenant friendly rules and I'd be scared to death of some type of 'wealth tax' or change in overall tax rate or rent controls.   

This means that the owners pay tax as though they earned the income directly themselves.  

However, there might be some tax benefit in your situation to treat this as a partnership (LLC tax as a partnership ).For instance, this treatment could reduce a married couple's SE tax bill when one spouse has wage income above the Social Security tax ceiling ($128,700 for 2018).

Their is a movement in Texas to abolish the property tax and the franchise tax (a poorly disguised state income tax for businesses) and replace with a broader sales tax.

., to bring in $1 under the Fair Tax for every $1 in current embedded taxes), the tax would have to be greater than 30% (tax exclusive) on every purchase.Despite the higher income each person would generate, the exorbitant tax on each purchase would likely reduce discretionary spending; on top of that, you'd have double taxation in many circumstances -- for example, when you buy a house, you'd pay a 30% tax and then pay another 30% tax on your mortgage interest payments.Personally, I don't mind the Fair Tax, as it ultimately plays out as a regressive tax.

Just need to update info with the CRA for taxes.Part of the first time home buyers plan eliminates completely or reduces the transfer tax.

Parts of BC and ON (not sure about QC) have taxes on foreign owners when they purchase a home-the speculation tax as they call it in BC is a good chunk of money. 

My friends who are consultants use this to squeeze as much into their 401K pre tax as possible.