Hi Joel,I am interested in start doing the same as you to be using it for medium term rental (28+ day stays) arbitrage in GTA (as short-term rental stays (less than 28 days) are restricted).

I sent you a private message.I don't restrict certain breeds, but you may want to consider it.

Restricted food benefits, no fast food and cheetos, no, basic food, basic everything, SURVIVAL. 

My CIty does not have a boarding house regulations or restrictions which is one of the reasons i jumped on this.

They’re less restrictive since they don’t rely on personal income or DTI, making them a great fit for BRRRR.

As others have said, you need to check the regs in the area you are looking to make sure STRs aren't severely restricted.

Zoning and Environmental restrictions can greatly effect the value of a property. 

Borrowers are not allowed to complete any of the work themselves as sweat equity.Loan to Value Calculations:The original principal amount of the mortgage may not exceed Fannie Mae’s maximum allowable mortgage amount for a conventional first mortgage.Purchase: For a purchase money transaction, the LTV is determined by dividing the loan amount by the lesser of the “as completed” appraised value of the property or the sum of the purchase price of the property and the total rehabilitation costs.Refinance Transactions: For a refinance transaction, the LTV is determined by dividing the original loan amount by the “as completed” appraised value of the property.Eligible Renovation:There are no required improvements or restrictions on the types of repairs allowed.

The city has issued licenses, they are just very limited, hard to get, and there are a lot of restrictions around how it can be used. 

Going to the credit union where there are less restrictions makes since.