While commercial properties are excluded from the 10 properties limit the guideline does not distinguish between th loan type used to finance the property.  

Use only contractors with workers comp (make sure the owner is not excluded) and get proof2.

EDUCATION: I see that the two main institutions providing training/credentials in Ontario (excluding RECO) for real estate professionals are the Ontario Real Estate Association (OREA) and Humber College.

I also believe the capital gains tax excludes houses and business equipment so it sounds like we may be safe from that.I am one of those landlords that will likely leave the state.

Exclude the note from the exchange.

For example, if you owned this rental for 4 years already and then move into it yourselves for two more years, you can only exclude 1/3 of your gain (two out of six years) and will still owe taxes on 2/3 of the gain.

A very quick search suggests any income from loans is excluded from UBIT.A good summary is hereMore details can be found here

You can exclude up to $250,000 (if single) or $500,000 (if married) in taxable gain as long as you have owned and lived in your primary residence for at least 2 out of the last 5 years.  

Dwelling (Building coverage) The limit should be based on the Replacement Cost of the building (cost to rebuild with the same kind and quality excluding the foundation)2.

If the business is profitable, then profit is being shown, and taxed, somewhere...either at the corporate (C Corp) or personal level (S Corp/llc).If the business doesn’t “show” a profit...then there “is no” profit (excluding depreciation).