There is a sizable number of well-to-do folks coming over from Mexico and buying second homes or investment properties in the area. 

Building Equity: Part of your rent can contribute to the eventual purchase, helping you accumulate equity.Cons: Risk of Losing Money: If you decide not to buy at the end of the lease, you might lose the option fee and any rent premiums.

I would think that a lot of folks who were in it 2-3 years ago were in it for the non-performers, and we know how that market is currently.I'm not currently buying because my capital is currently deployed. 

And you cannot use it to purchase a primary residence.You can however use it to buy an investment property and later convert that into your primary residence to get a prorated amount of the gain tax free.You can also use it purchase and improve an investment property as long as the improvements are complete prior to you taking title to it. 

If the seller is offering zero compensation, that property could be out of budget from inception or drastically reduce the seller's potential buying pool as initially it might appear out of the buyer's budget or feasibility if required to compensate their side directly. 

Never buy a property with the intent of changing a neighborhood or a city unless you have capital to waste.

Also with the new policy changes with CMHC high ratio mortgages first time home buyers will have a much tougher time buying their first home so the rental pool will increase leaving more people looking to rent.I currently hold two rentals one in which is an owner occupied rental which I purchased for 200k 7 years ago and it is worth around 275k today and this year I purchased a triplex as well for 250k and as is with no improvements this yields me an 8% return a year which I would say is quite low.

Steve,Unless you are cash fluid and have a good chunk of change to continue to buy more properties, I would tell you to pull out some cash.

@Tony Sherman, yes.Closing delays on buy side with title issuesMaterial delays, which can compound into contractor delays when you try to keep schedules tightContractor delays because prior jobs are not wrapping on timeContractor delays because you need to fire one and hire a new oneScope of work issues, i.e. no signs of moisture intrusion prior to buying, but all of a sudden you have a wet floor after a good hard rain.Closing issues on sale sideHow do you manage?  

We have developers interested in buying the property for about 6 million.