Yes, I foresee many potential issues that you'll want to consider carefully before pulling the trigger on an OOS property in a C or D area (see my previous post for details).Good luck out there!

However, due to the complexity of these credits, it's crucial to seek professional guidance and ensure compliance with all applicable rules and regulations.

Please remember, the focus here is on compliance with Canadian privacy laws and respecting the privacy of individuals while still achieving our goals.

However if you plan on buying 3-4units, there is a trigger rule for FHA, it is called the self sufficiency test.

There's a question at the bottom: "What information must I provide in order to obtain my most recent I-94, travel history, or compliance check, or to apply for a provisional I-94?"

How important is it to have a list of team members before starting out---Should I just pull the trigger on a place and send an offer if it works financially and learn by trial and error? 

Only when you have a solid foundation in underwriting would I pull the trigger on a purchase because as you have seen - it will be a money pit for awhile and if you don’t have the exit strategy to pay everyone back - it won’t be your money pit long because they will foreclose. 

All it takes is 1 or 2 dominos to fall in a specific market that could trigger action but agreed the banks could be propping this up from happening.

Hiring a property manager when living out of state ensures local expertise in tenant management, property maintenance, and legal compliance.

I have a parcel in Michigan just waiting to pull the trigger on building