You can't count on believing that the family member will not produce a handwritten lease (real or not), or other paperwork & tactics, to throw a big old wrench in your initial/expected timeline.You CAN expect that if they see you as the big old rich/developer/bad guy enemy, they will do as much damage as they can, and drag their feet as long as possible.See if you can feel out what the relative actually wants/ needs, connect/come prepared with info on resources for local "housing help" options, etc (perhaps), and figure out what you can do to solve the problem (cash for keys with an incentive for quicker move out timeframe?

Kiran, real estate is arguably the best long term investment that is offered.

It seems to be a rock solid single-family long-term rental area to me.

If you are thinking long-term and want to build generational wealth, it takes time and it takes connections.

how long are you going to carry the burden while you build out the "resort"what amenities, marketing, management will you be looking to implement?

I have not looked at Kelowna  prices in a long while but its hard for me to gauge it since I bought in 2000 and sold in 2002 and made a fat profit at that time.. a lot of it was the currency Delta at the  time as well.. buying in US dollars Canadian real estate..

Long story short, no, no one is currently enforcing the 2 property limit.

Can they prove how long it takes to rent a vacant property?

If it's to hold long term and pay down the mortgage, the appreciation and mortgage pay down is great.

It's a fine business model as long as you don't mind your tenants paying fees for your use of the software.