My mistake. From your first post I assumed you would be buying property outright, not taking out additional mortgages.

There is a lot of work involved in rehabbing/renovating properties, even if you are just going to get contractors to do it all for you. There is also plenty of paperwork to be done when it comes to buying, renting, remortgaging, and selling. There are also of plenty of risks involved here. What if you rehab a property, but the appraisal (I think you would call it home report) comes back with a lower value than you hoped? What if you can't get anyone to rent for 2 months, or you end up renting at less than you wanted? What if the contractors end up taking longer than expected? What if you discover some hidden problem with the property that you didn't know about? What if rates go up? What if the market tanks? And as Carlton says, you always have the government to consider, who could crash your whole project in a heartbeat.

You sound like you know the market, but this isn't guaranteed "financial freedom" and "passive income". There are a lot of risks to consider.