She’s currently not paying rent, and while she has some health issues and no stable income, she’s been communicative and open to general talks, with a possible option to vacate through a cash-for-keys arrangement, though this might take around six weeks and some hard work.I plan to rehab the property and eventually rent it out, potentially to a Section 8 tenant.

Just learning my options at this point. 

Normally we'd use a 1031 exchange, but since the cash of that property is going to be split, I wasn't sure what our options are.

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

Looks like you have some good options in front of you @Martin Phinney.

Happy to chat...being a local GC takes out a lot of the risk of the biggest variable for most investors (unpredictable rehab costs) and also allows you to consider more options than the average investor, with your rehab costs being significantly lower.

The reason I approached them about putting their offerings on my show is because I wanted to diversify my product offerings beyond the low income stuff that I specialize in so I could present investors with options that come with varying levels of risk.I do not agree with you that investors won't make money in the low income space at all tho.

Shared housing provides affordable, flexible rental options for young professionals, remote workers, and students.As shown above, co-living properties have more demand than traditional two-bedroom units and appeal to a wider tenant base.2.

Note these are only residential options.