First time home buyer options

[Andrew Smith]

I am new to REI and I am excited to get started. I am from Vancouver island in Canada. For a first time home buyer in BC the government will eliminate/reduce the amount of property transfer tax. There are regulations that go along with this. The two main regulations are that you have to move into the property within 92 days of the date the property was registered as well as the property has to be your principle residence for the remainder of the first year. Therefore I am looking for either a rental property or house that I could flip. Using this first time home buyers program I would have to either buy a house that I could live in and rent the suite or buy a house to flip and renovate while living in the house for the first year. With doing either of these options I don't see much of a way to generate positive cash flow. I am debating whether to "waste" my first time home buyer option and buy more of an investment home that I don't have any restrictions on, or try one of the above strategies. If anyone has been in this situation or has experience with this kind of thing I would greatly appreciate some advice! Thanks!