Know your break even occupancy, compare it to the average occupancy rate from the last recession in your market, and be sure you feel comfortable with itLong Term Permanent DebtLook for Financing from the likes or Freddie/Fannie who offer 30 year amortization with 10 year terms.

After rehab, you refi into a permanent $120k loan and start renting it.

Homeowners insurance will cover only the dwelling such as the walls and floor/roof and everything permanently attached to it.

They have point of use options for low cost install or an in-line option, which may require a plumber to install, but they are more concealed and permanent.

We looked briefly into moving there before we realized we weren't really happy with the idea of living permanently anywhere in the USA.

If someone is permanently injured or will have a long recovery time with physical therapy sessions, etc. involved, it's easier than you think to approach that limit.

One of their friends is managing it until they can find someone more permanent.

I’d like to turn my home into a permanent rental and buy my next investment property.

Property Transfer Tax - We have transfer taxes when you buy a property based on the fair market value of your home (based on the following scale):  1% on the first $200,000,2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,3% on the portion of the fair market value greater than $2,000,000, andIf the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).Additional Property Transfer Tax on Foreign NationalsAdditionally if you are a foreign national: another 15% tax of the fair market value of your homeSpeculation and Vacancy Tax - if you own a home that is not your primary residence and is not rented out for at least 6 months of the year you pay an extra tax 2 per cent for foreign nationals and satellite families who do not pay income tax in Canada;1% on the first $200,000,2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000,3% on the portion of the fair market value greater than $2,000,000, andIf the property is residential, a further 2% on the portion of the fair market value greater than $3,000,000 (effective February 21, 2018).1 per cent for Canadian citizens and permanent residents who are not resident in B.C. for income tax purposes (and not members of a satellite family); and 0.5 per cent for British Columbia residents who are Canadian citizens or permanent residents (and not members of a satellite family).

I wish I had a solution to offer those people, but with the affordable housing shortage already being a severe crisis in much of the area, now aggravated by these disasters, many people are having to say goodbye permanently.