Look at that option, pencil out the numbers and see what makes sense, still flipping and getting hit with a PPP or convert to a rental and hold it.  

From what I see on the market, houses are cheaper than most areas in the GTA while rent is still relatively high.Especially if you can find a SFR and convert the basement into a secondary suite, will definitely cashflow positive.

But on the other hand, you can also convert into a Roth and enjoy tax-free rental income for the rest of your life.Great book: Leverage your IRA by Mathew Allen.

Additionally, I’m considering converting a garage into a bedroom.If I want to list these properties on Airbnb, I understand I’ll need to obtain the following:•BTR (Business Tax Receipt)•CU (Certificate of Use)For these, I’ll need to undergo a city inspection.

I can’t imagine an ADU would be very beneficial, and most dont have a basement to convert into more bed/baths.

Two we had as traditional rentals and converted and two we bought specifically for PadSplit.

Later you could convert to student housing.This is rock-solid advice.

Use a CRM and have a email campaign to convert it at a higher level. 

Hi All,I am looking to convert the basement into an ADU hence I will need to interact with local authority in order to obtain the building permit.

We converted an existing shed to a 1 bed 1 bath apartment and now rent out the bigger house for great cash flow.