I'm about to buy a rental property in my home province of Newfoundland - in the evaluation phase right now.I've been helping clients with their rentals for years and I think the time is right for me to diversify my own investment portfolio into real estate.Thanks for having this forum here.Rod

However when looking into out of province houses or scaling I feel a PM would be necessary.

If I wind up buying in another province or city I will hire a PM.

Here in Canada 5 hours isn’t even the next province!

Is this the case for all states or provinces? 

Account ClosedHousing assistance in Canada is a provincial matter and each province addresses it a little differently.  

Prince Edward Island (PEI), being an island, restricts ownership of certain property classes to anyone who is not a resident of the Province and restricts the amount of property a foreigner or Canadian from "the big island" can own. 

Foreclosure in Canada is almost evenly divided between provinces which operate under Judicial Sale (Alberta, British Columbia, Manitoba, Nova Scotia, Québec and Saskatchewan) and Power of Sale (New Brunswick, Newfoundland & Labrador, Ontario and Prince Edward Island).Under Power of Sale, the lender is permitted to sell the property without involvement of the court and often without actually taking ownership of the property.   

It seems like a small way of restoring some of the power balance of my province's shameful rental laws.     

My first foray in HML in the SF bay area was for just such a company we did thousands of 80.10.10's  all sorts of 10 to 20k loans... then the early 80s the thrifts came in there and really gave us a run for our money.. and soon by mid 80s we no longer did homeowner loans it was at that time that HML became the province of investors and we only did investor loans... and mainly seconds even then... then banks would not allow seconds and we moved into doing firsts... yes short memories.