Renting it out before that could violate the loan agreement unless the lender grants an exception (e.g., job relocation).

I work for a direct lender and we provide financing in Indianapolis along with 35 other states so I can guide you through the nuances across various states.

And it would for real estate investors, agents and brokers, lenders, etc.

But make sure to build a strong core 4 if you invest out of state (deal finder, your property manager, your lender, and your contractor).5.

I’d be happy to connect and share ideas on building a solid plan, like assembling your CORE 4 (agent, lender, property manager, contractor) to help streamline your journey.

The right agent will have worked with Canadians before, will have lenders set up that can work with Canadians and will have a seamless process for management.Not only can an agent set you up with a GC, property manager, lawyer, insurance broker, inspector and everything else you need, they can analyze deals and put numbers in front of you.Your job as an investor is to vet the vendors they are providing and double check their analysis.  

Check with your lender to make sure you heard it correctly. 

My fear is the lender calling the loan due because I wouldn't have the cash available to pay it off.I don’t know of many cases where a lender would allow an assumption let alone a “subject to “ situation.  

My best advice is to work with someone who can easily plug you in with their network of GCs, PMs, and lenders.

Floating rate loans are normally quoted at SOFR plus a spread, a profit margin for the lender.