At the risk of dispensing legal advice, if the 2nd mortgage looks, walks, and quacks like a valid lien, then it shouldn't matter if the lender is an institution or your first cousin.

In the past they’ve been brainwashed into thinking that banks are evil institutions who make money at the expense of hard working individuals, such as themselves.

But we all see what's missing in there: it's a cookie cutter life that is palletized, shrink wrapped, and shipped to someone as a "life" by the Amazons and institutions of modern America. 

Yo want no regulation or industry standards for the STR's, you're ok with this because it works for you, imagine now if the Natural Stone Institute had no standards or regulations for the countertops you're installing in your units and now you're emitting toxic chemicals for all of your guest, then take this scenario onto the plumbing pipes, now look at the flooring requirements, If everyone who has some sort of profit benefit in your Asset took the same position and wanted no government oversight or regulation in the name of individual tunneled vision profit, we'll be back where we were in the 60 and 70 with mass numbers dying from asbestos and lead poisoning all from renting your units.   

Seller financing, also known as owner financing or seller carryback financing, is a real estate transaction in which the seller of a property provides financing to the buyer instead of or in addition to a traditional mortgage from a bank or financial institution.

Just keep in mind to keep it in a FDIC or CU equivalent protected institution. 

Ottawa being an expensive market doesn't cater all that well to crazy cashflow, but If the units were large with multiple bedrooms and near enough to a post secondary institution, like in Little Italy, for ex.

We used to have flu only two years ago, but they injected the economy with cancer and heart attack and stroke so economy and company can't move , when people can't move the Fed think one would not spend money LOLSeems like much bigger financial institution gonna collapse soon but truly there's almost no point for company to continue operation.

Ask them for their MLO/ corporate(most loan officers work for a larger corporate institution)/ loan licensing and registration details.

@Riley RicobeneI took the accelerated class at the Chicago Real estate Institute you complete your pre license requirements in 10 days it was a smooth process and affordable.