My question would be is a 6 cap the going rate in the area for that building.

If they want to stay, they will sign a new one-year lease with a monthly rate of [$XXXX].

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.

We like self-storage because even if there is a recession, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.

A great lake front home doesn't have to cost a mint but it sounds like you want something that is really fantastic which will bring a higher nightly rate.

With mortgage rates close to 7% and generally soft homebuying sentiment, strength in existing home sales is unlikely to be sustained," said Alice Zheng, an economist at Citigroup.

What are their nightly rates, occupancy and amenities?

CA has the highest sales tax rate in the country.

As you go on your real estate journeySomething I would recommend for you is this website. https://www.areavibes.com/Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F

If everything works out and you are dealing with a legit company this could be a great long term tenant paying above market rates.