Non Primary Residencey?

[Cameron Chambers]

Hey all!

I currently rent in Brampton, where I pay $630 a month with all utilities included with some other nice perks.

I’m a young guy and most people my age live with their parents, and some of my buddies have some properties already (condos in Toronto) that they rent out entirely for maximum return.

It is from my understanding that legally you must live there for at least a year, no?

In a perfect world I would like to put a down payment on a home out of town (Hamilton, Barrie, or London) and rent out the entirety of the house, while still living in Brampton.

Is this possible? Is this stupid? Is this a decent idea? Looking for help.