You''ll need more down and additional reserves.

Many lenders also impose additional requirements such as owner-occupancy, and/or that one lender make all of the institutional loans in the building.- Valuation: The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.

@Kevin Connauton most PMCs won't touch this type of renting due to all the additional headaches and liability.We second contacting PadSplit.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

You could convince people they should have their kids, parents and/or grandparents live in their houses with them. 

Additionally, I’m curious about how this would apply to properties in provinces like British Columbia, Alberta, or Ontario.

I've owned the house for few years and have spent a lot of time trying to design an addition to add value to the property, but the current floor plan is really not conducive to realizing a return on that investment (tiny living room, low ceiling basement, poorly placed basement stairs, etc.). 

I intend on sending the tenant a bill for the exact repair cost as "additional rent" (per the lease) instead of evicting in the winter and deducting from the security deposit.

I currently have a homeowners plan with Allstate and plan on asking them if they have something like a short term rental rider plan that I can add in addition to my current plan.

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”