Specifically, I would encourage you to continue to seek local opportunities for equity growth as well as seeking out-of-state or upstate opportunities for cash-flow (i.e.

You didn't find the property, you're not doing the rehab work, in fact are going to delay and interfere with the rehab by moving in while it's still under way.

it's actually tough to find cash flowing deals anywhere right now. 

Price How did you find this deal and how did you negotiate it?

I’ve come across details regarding the Prohibition on the Purchase of Residential Property by Non-Canadians Act, and it seems there are exceptions for buyers with a valid work permit or for properties outside Census Metropolitan Areas (CMA) or Census Agglomerations (CA).Do you know if certain types of work permits are more favorable for this purpose?

Steps: you go under contact with the owner of the property, you assign the purchase and sale agreement to the end buyer, the end buyer closes, and you get paid the difference between the agreed-upon price between you and the owner and the intended purchase price of the end buyer. 

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

if the second buyer is paying cash then your done they pay your off and your first note.. off to the next one..

@Johnny Lynum we did offer them an aggressive cash for keys amount to get them out as soon as possible.

It will be remote, but since you live there now, you probably already have connections who either already know the house or local friends to find you good people to service things as needed.