Financing is the first filter for any investor. A property you will not live in needs at least 20 percent down rather than the insured minimum, and a lender will count only a portion of documented rent toward your qualifying ratios, not a rosy rent projection.
Legality is the second filter. The City of Saskatoon requires a secondary suite to be permitted and inspected, and an unpermitted basement suite is income you cannot advertise honestly, insure properly, or count on when you eventually sell.
The number that actually decides the deal is what the building is worth today, and that is exactly where public data misses improvements made without a permit. Joel Dyck's hand-reviewed valuation prices what is physically there. Get your hand-reviewed valuation from Joel Dyck.