Together, we negotiated favorable terms with the seller, ensuring a swift and beneficial transaction.

Mortgages in Canada come with different terms (eg 1 yr, 2 yr, 5 yr) and fixed and variable rate mortgages. 

If the deal is good enough and you are confident about the profit potential, you can always use credit cards as a short term cash source as well.I'm also relatively new to this, but have recently jumped into the game.

I'm looking more into long term rental since I have no experience or time flipping houses.

These are single family homes that are worth anywhere from $500k-$1.25M, rented on a long term basis to renters that are paying a lot of money so there is a standard of care that I'm expecting for myself and renters-- over what I would expect from a 1 bed / 1 bath renting for $750/month (no dig to anyone who owns these, in fact I wish I had more of these). 

In terms of tax implications how does that even work?

It's a more expensive market than the Midwest and the short term cash flow is lower and that is the trade off for being a few hours away in a landlord friendly state.

Who here has experience in owning a short term rental around the Wallenpaupack area?

The Fed recently adjusted its short term projection to one quarter point rate drop for 2024, though it had earlier predicted as many as three drops.

Long term cash flow?