Is shooting a feature film on a Canon rebel, a bad idea?

Ryan, this is not the answer you want, but I'm hoping it's just as valuable.

However, is shooting a feature Canon rebel, that you want to get noticed and hopefully get picked up, a bad idea?
No, but shooting a feature with your severe diffidence is a bad idea. For you and for me and for anybody who wastes their time giving you advice that you refuse to listen to.

If I was to say "Yes, it's a bad idea, get yourself a used RED or at least an URSA" then you'd flood seven different message boards with questions about white balancing your new camera and framing your subject and how to adapt those Canon lenses you already have.

I know guys who went to Cannes last year with a film shot with multiple T2i's. It can be done. These guys are also prolific short filmmakers who have been doing this for years and won boat loads of awards. They're experienced enough and at the stage to get their stuff picked up by festivals regardless of the camera they used.

Get out there and get shooting. Enter filmmaking competitions and win them. Then, when you're at the stage when you've picked up awards and are a confident and competent filmmaker, take whatever camera you have and get noticed.

Okay thanks. I am not saying I am going to shoot a feature now. It's just I was wondering if it's worth investing in a more expensive camera for the future.

One thing I have noticed in my shooting, is that the camera does not shoot RAW video, so the color grading options are limited, cause it causes more noise in grading. Could this be a problem, when wanting to look professional?

Download Magic Lantern. Problem solved.

Why don't you shoot it and tells us later?

I shot one short film on it so far, but wasn't sure if it would be good enough for a feature.

Why not? The camera is just a tool.

I see you on here just talking about this and about that. Maybe you should just do it instead?

So you made one short film and you are already going to make a feature? Trust me a camera is going to be least of your concern.

The chances that first feature being picked up are very slim and if by chance your film is phenomenal, it being shot on a DSLR isn't going to stop it from landing a deal. However like I said chances of it happening it pretty slim. Just make a movie, see for yourself. You worry too much about nonsense. Your films aren't going to be award winning right out of the gate.

Maybe make some short films before you commit to blowing budget on a much larger project.

No I wasn't planning on making a feature now, just investing in future equipment so I would get the most bang for my buck, and use the camera over and over again.

Are you the cinematographer? Most people I know own a camera or two but they actually rent equipment for bigger productions. You know it's better to rent a high end camera and spend the money you would have on it for budget of your project?

I know people who own RED cameras that by today's standards they are not high end and worst part is they are still paying it off. The projects he works on usually has budget to rent a newer RED, or couple Sony A7S MKII. Each project calls for a different camera. You want to just buy and store gear, that's your call. The money you spend on owning gear could go toward your production to hire make up artist, stunt coordinator, editor, colorist, or anyone that will help you make your film a better piece.

Or you could invest in a camera that will be in few years outdated. Your call.