Very challenging if not impossible to make lot ratios work if the existing property isn't conducive. 

Whether these factors outweigh the challenges is a personal decision. 

Is there a specific challenge you are trying to solve for? 

Challenges?

I was hoping someone might have some experience in this market to know how challenging the process would be to obtain the permit.Thanks for your input!

Brittany Finding a great PM can be challenging but not impossible.

I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging. 

It's definitely challenging but there are lots of people doing it in Canada.

One of the key challenges I’m facing is understanding the financing options available to someone without Canadian residency or a local credit history.From my research, it seems that a 35% down payment is often required, with interest rates around 7.5-8.5% for non-residents.

I would study the listings from the top performing rentals in your area to see how they are overcoming any challenges with location.