I have no idea how the Canadian side works.

And no, refinancing isn't your only option there.

I have my primary residence single family home paid off in full Zestimate ~$500K, and no other outstanding loans for cars, schools, credit cards, and in good financial position with 2 years of reserves for expenses, etc.

There are no two ways about it: rigorous due diligence is required.

., quick close, no finance contingency, as-is, etc.) but is priced so low that sellers will re-think the creative finance offer/option.

to that I say - no thanks.

So I called my agent immediately and told her I cannot proceed and no deposit was sent.The bank then called me within hours to correct themselves.

https://www.biggerpockets.com/blog/short-term-rental-loans-a...Also - PS on the advice regarding getting a vacation home loan - if this is referrring to the conventional 2nd Home / Vacation Home Loan (10% Down Loan) - I'd be very careful here, these are not supposed to be for STR investment properties (you are required to rent it out no more than half the year, not utilize prop management, ec.) - which doesn't sound like your plans for this investment

No real specifics provided but if you share the address I can take a look and give me $0.02

This must be California and that being said I would tell you "No" (Don't do it) look at other states for that kind of purchase price.