Buying a rental house in Calgary 2023 December

[Jai Kalsi]

Hello Everyone,

I have $100,000 available for downpayment. I live in Abbotsford, BC, and looking to get a house in Calgary.

The goal is to have a positive cash flow of around $500-$1000 every month. Looking for a house with a basement. The budget is in the range of $450-500k.  The monthly mortgage payment  would be $2500+ 150 (property tax)

2 months ago the plan was to get a property in Vancouver downtown and run it as Airbnb as it is closer to my house. But thank god I didn't buy a property there as recently the law has been changed by which we can't do Airbnb anymore except than our primary residence.

Is anyone doing something similar?

Or is there any better idea than this?  I am open to exploring more options.

Any advice would be helpful. Thanks.