@Lucy Balyan   the up front fee with no loan to follow is  very old scam.. it used to be mainly the province of bigger money deals. 

Spec building Is usually the province of farily experienced types. 

Rent is regulated in the province so once I lock in a tenant only around 1.6% increase per year,Again thanks for your input very much appreciate.

We're veering off the topic of my original question here but they are slightly different:http://www.canadianmortgageadvisor.ca/resources/fo...Some Canadian provinces use power of sale, others use foreclosure.

I wish somebody who knows this market could chime in.It's def a high risk play - but let's be honest, is the new brunswick province likely to go bankrupt?

Try looking for a different province 

I believe there are province specific forums for Canada (I know there's one for Québec but it's not very active). 

To my knowledge, including every state and province, rent is late at midnight on the day it is due.

And for employment, I would have to be working in the province to qualify for that, no?

A few things to add:- When you compare the two sceanarios a) remain renting for 1 or 3 years while leveraging that money out of province, versus; b)moving into a place, paying down the principal, potential appreciaton/ forced equity, not paying rent, the numbers come out in the significantly in the favour of removing ourselves from the rental pool.