Make sure your real estate agent isn't just about closing that one deal but understands the benefit of protecting you on each purchase to ensure that you keep buying because you are enjoying success.  2.

Keep your automobiles safe..

Keep us posted on how that situation goes for you.

Keep records of the payment timing to substantiate your reporting if needed.This post does not create a CPA-Client relationship.

its highly risky for most mom and pops to sell on sub to.. and its simply not a way for those without substantial wherewithal to buy property and keep the seller safe..

My guess is they have low level of book keeping sophistication. 

The goal is to move into another property by spring 2025 to do another live in flip and keep this property for a few years at least.What made you interested in investing in this type of deal?

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Occasionally if they have other assets maybe she can keep the equity of the house and he gets to keep his full 401k or something like that.   

As a foreign buyer, you are to look for 2 things in particular: the temporary foreign ban (which they keep pushing further back) and the source - The foreign purchase ban which applies across the board. yes there are exceptions but if you are not a Canadian tax Resident (which it seems you are), you will need to look for communities where the population is less than 100,000 in general. - Another exception to note on that foreign buyer ban is the number of units/doors for your investment: I believe the magic number is 5+ as this would be considered as commercial Real Estate- In Ontario, you will also have to look our for the Non-Resident Speculation Tax (NRST) which imposes about 25% on the purchase tax.