It is definitely not a pipe dream. Check out Victoria St., it is close to downtown, close to the hospital and prices are cheap! I just bought a legal duplex for $150,000 with a garage! Across the street there is another legal duplex for sale on a large lot for $109,000 which needs a little work.(
http://www.realtor.ca/propertyDetail...ey=-1882190012) Tons of improvement in the area. Good luck!