I would check with the laws in your area as some of your fellow Canadians suggested.

Dan,Yes, renting is always an option but last resort in my case: As a Canadian  refinancing of  the property is limited - best case scenario I can get 65% LTV with pretty high rate. this means a lot of my money will be "buried" in the property. my understanding  rent I can get is around  $1100/1200 so not so great in terms of cash flow. add the fact I am far away which means  extra costs in property management and often repairs of such old house will be higher. so bottom line selling still seems the best option unless price I can get really sucks.

Hi everyone! New to this site, but have watched biggerpockets podcast a few times and love all the good information I've heard.I have a question that I would greatly appreciate son help with. I've recently sold my 24 ...

I ran the numbers and came up with a total of $813 / month.I got replies from some other management companies and they were all quite similar.I have a friend of a friend who owns a place down there and says that now with the Canadian dollar the way it is, he wouldn't bother, he's just breaking even without carrying a mortgage, although he does use it himself for 6-8 weeks during high season.

Now, if you grow terribly bored with your present workload and want to immerse yourself in Canadian taxation ... or maybe just taxation concerns for Canadians playing the U.S.A. sandbox ... 

Colevin Crause I am Canadian that own parks in US.

I'm a Canadian living in Seattle, WA and looking to diversify my portfolio. 

My training is by an American who also has students in Canada doing Real estate Canadian way. 

unless you lived in the property for a period of time, within the last so many years...And unfortunately I do not believe that there is a Canadian version of the 1021 exchange. 

Any short fall in court fees, rent or damages that exceeds the security deposit may be claimed through Small Claims court (another relatively simple process) but collecting will be difficult since we cannot garnish salary here, unlike in most Canadian provinces.Being there, done that.