Any lease that I make with the roommates will not be recognized by the HoA according the above definition, but would be recognized upon a court of law (I would assume).

At that time, you really just need to start putting those ideas into action as knowledge unused is completely worthless.Self education is the key, but we all have a tendency to over self educate...... soon enough you will realize that you, in fact, are one of those "analysis paralysis" characters that you never would have thought would be you... meet with people, genuinely find out how you can help them, and you will achieve what you set out to do.Hope that helped man!

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

If he or she has been doing this for any length of time, then your client probably recognizes that the odds of them staying for an extended period of time is low. 

Anyway, I can reduce the penalty because I had a genuine financial emergency?

You are a perfect example of everyone who has done everything 'right' and now you recognize that you want to start acquiring properties and passive income because while you love your job obviously - working at it for the rest of your life may not be the way to make your financial dreams come true - or, at least, as quickly as YOU would like to see!

Account Closed"Double taxed" is not quite accurate, but where LLCs do not exist under Canadian tax law, the CRA deems them to be corporations and does not recognize their dual existence.  

I'm no CPA, Account Closed, and I know nothing about Canadian tax rules, but I have to think the revenue service would never fall for this.One strategy I have read about is to genuinely buy the place as a vacation rental.

So wish me luck and hopefully I can close on this deal within a month or two weeks as I thoroughly and genuinely excited see this through!

-I'm genuinely interested in rental properties as a wealth-building and financial independence tool.