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Renovations As a Profit Maker

My question is: Canadian-specific

QUESTION: Hello,

I've recently been very interested in the idea of partnering with my family
in buying, fixing up and then reselling homes. It looks like this works
great in the US, however, after mentioning this idea to a realtor here in
the Lower Mainland im not so sure.

What type of tax implications are there for doing something like this? Does
this actually turn out to be a good way to make a profit?

Thanks,