Mortgages have a "due on sale" clause, which means the lender has the right to call the loan and demand full payment of the balance if the property is transferred to another person.Whether or not there are ways to legally get around that is above my pay grade, so I would advise speaking with a real estate attorney before proceeding.

Is it legal?

April Stewart Landlord Legal Inc.If you are in your learning stage it is imperative that you learn your RTA and study the operation of the LTB.

Eric.If they are 5 legal units then it is a commercial property and can be appraised based on the income it produces. 

Handwritten on white paper, then scanned and printed onto yellow legal pad paper, writing in owner's name and property address, hand writing addresses (and return addresses) into pastel colored invitation envelopes.

There should be permit records with a site plan showing the location of the septic tank as well as the rest of the system.

My search has included analyzing the prices of homes in these markets, driving around the neighborhoods, checking on occupancy restrictions, student permits if required, college enrollments, crime statistics, etc.

To start, the numbers:3 bedroom, 1.5 bath 1700 sq foot brick SFH with bonus room.Purchase Price: $59kAppraisal: $105k as is with estimated $124k after rehab.Renovation budget: $20k.Renovations include: new flooring in bonus room, kitchen and baths. total renovation of bathrooms, new cabinets, crown molding (to cover bad drywall job by previous owner), buff hard woods, paint exterior, paint interior, remove awning, remove side door and seal up, fix low spot in kitchen floor, and remove the non-permitted fire place.Estimated Rent: Initially I budgeted $950 per month based on another rental I own in a similar location, but  two houses on the same block were recently rented for $1200+.

This thing is an off-market, 9720 ft2 mixed-use building that needs a lot of work (say, $300k purchase price and $200k reno, with 10k closing/legal/deed transfer costs). 

The Holton-Wise legal team managed to get the fine dropped a bit but I still had to pay it, plus legal fees.