@Timothy GordonThere are no laws preventing or restricting you from purchasing real estate in Canada - possible exception being Prince Edward Island which restricts the amount land ownership to off-islanders (Canadians included).You will find financing is somewhat different than in the U.S.A. and when it comes to taxation, the CRA likes to get their payment up-front from non-residents.    

Using the financial returns of your time spent, is restricted to just one year (or 2 or 3) is short sighted. 

USDA does not like people having more than one residence I can tell you that, there are other restrictions as well especially since both USDA and FHA are for primary use only.

You need to consider your height restrictions in Boulder regarding solar and views.Do you have a ROCK SOLID construction crew that has operated in Boulder before?

I mean you can take the same down payment money and buy a good note and get the same or better CASH flow.. but IRR is restricted to interest rate or return if you snagged if for a  discount.

Cons- Monthly HOA, don't own the land, possible rental restrictions in CCRs, special assessments down the road, HOA restrictions on remodeling material. 

As an investor, you should never be restricted to working with only one.E)  I work with a number of partners that flip in CA, and buy hold properties here in MI. 

It would not be hard to imagine rental increase restrictions to be CPI.

There are restrictions for timing the sale and purchase but I knew I would have no problem designating a few new investment properties in 45 days. 

For us we are generally restricted to increases under 2% per year and now have the most pro tenant legislation in North America.