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Thanks everyone for these valuable comments. This confirms what my lawyer has also told me (i.e. will need to self assess and offset with ITC). Thanks for the heads up on future book keeping.

To seasoned investors...looking at my first multi unit acquisistion Question is when buying a multiunit property that is a combination of commercial (less than 20%) and residential units... 1. Can you structure the deal (i.e. corporation buys) to be exempt from HST? 2. In a mix as above is...

Perfect ! Thanks very much and the reference to the blog.

What is the reason the vendors offer VTB at the rates they do which are lower than banks. Why would they not take that same money and invest somewhere else with better gains in their pockets? When it is time to unload the property would one have to offer similar VTB to attract buyers?

What is the interest on these mortgages?

Hi...I am new to this forum. I am looking for advice from the experienced investors as to what the range of the Cap Rate is in the Toronto Area? What should I look at being a good rate. What should I look for as some of the common high cost maintenance for generally the older multi-unit bldgs...