Is it true that you only get the benefit only once in your lifetime or are you able to use this exemption once every two years?

This is not true.

If you are considering investing in rental properties, you will want to understand how cash flow is determined, as well as some of the most common expenses to account for.Determining Cash FlowInvestors well-versed in determining cash flow will find it much easier to uncover a rental property’s true potential.

It is true that a 1-4 unit would be considered residential, while 5+ is commercial. 

The FED doing all these things will have repercussions down the road and now more than ever real estate will show its true value as it is a tangible long term asset.Everything we do on this planet is tied directly into the land.

Then for the true rookies, maybe send those photos to a contractor for them to estimate costs?

I do not know if that is true in Canada and landlords here have not been offered mortgage deferrals.

Is this true?

Some people may disagree but everything above is true and experienced first hand.

This isn't always true, but in this area, where the military BAH dictates a lot of the rental prices and it's a very heavy vacation hot spot, the STR is generally a stronger play.