Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

To name a few: lawn mowing business, marketing agency, video production company, acting career, window washing, SEO services, improv comedy, music production, painting, drawing, guitar, blogging, and photography.

A big challenge given the value is getting financing - this is too small for most HMLs I know.

As time went on, prices came down because buyers saw the challenges with rebuilding--trade labor, insurability, not knowing what will be built on adjacent lots (like one lot where the owner built a house that looked like a concrete mushroom and that devalued the adjacent new construction homes built to more conforming architecture), and so on.The weakness with moratoriums such as these is that it is now illegal to offer less than FMV as of 1/6/25--but what was FMV on 1/6/25? 

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.

Challenges?

Quote from @Michael Smythe: @Felicia Jenkins the shorter the term of the lease and the more tenants there are, the more challenges you'll face - especially if you plan to manage remotely.Who will be your boots on the ground, do showings, maintenance, etc.?

Rental Market Trends: Is this zip code trending positively for investors looking for cash flow, or should I expect stagnant rents and challenges with appreciation?

We invested $55,000 in key renovations, focusing on modernizing the interiors, improving curb appeal, and ensuring the property met market expectations.