How to invest in Florida real estate for Canadians

[Dave Ba]

Hi all, first post. So glad i found this site. I'm located in Toronto and interested in a rental property in Florida. I have been researching on the net and trying to create a checklist\notes, however I can't seem to find detailed info on tax implications. I'm new to property investment so essentially i'm looking for any advice on the process to purchase property in Florida, tax laws, fees, etc. and all of the facts. However, I'm also looking for advice on what areas to invest in which would be the most profitable for shorter and longer term investments. I also understand that property is quite different in Florida as there are condo fees, etc so I am trying to narrow down the property type, but again, appreciate any advice. 

[Neil Raj]

Hi Dave, Im in Toronto as well, and looking at Florida.  I have owned a condo in Orlando before, but since sold it.  At this time, im looking for more of a resort type unit that I may be able to rent on a short term basis, as well as use from time to time.  What specifically are you looking for, and what area?  Short term or long term?   I know many building HOAs have stipulations against short term rentals, but there are some that allow it.  Im looking forward to hearing back on where you are at.