Hello, 

We have 2 condos in Western Canada and are looking to grow that number a bit.  The numbers in Canada and, in particular Vancouver, just don't work like they do in the US.  The 2.0% rule here is 0.3-0.4% if you're lucky and it doesn't get better outside the city, and forget about cash flow, the goal of most condo/sfu landlords is to only loss a few hundred bucks a month while the properties appreciate (think San Francisco on steroids, avg house price here, $1.36M).

I'm looking south for greener pastures (er, doors), anyone have experience as a cross border (Canadian/US) landlord?  What are the tax implications? Do you always use Canadian banks in the US (RBC I think is the one I see most).  What is the best method of getting to know the various rental markets in cities you're not familiar with?  I assume one of the best ways to find good local realtors and property managers is through referrals here, any other good experiences/tips for building a team in a different city? 

A bit about our goals, we're looking at condos that can cash flow positive $100-200 per $1000 of rent, 0.95-1.05% under the 2% rule of thumb.  Goal is definitely cash flow over appreciation, which will affect the taxes question I'm sure.  Have not used a property manager yet, though would likely have to cross border and would consider small multi-unit places (4-8, but we're still thinking about it) at the right price. 

I'm sure I've missed a ton of information that you'll need to answer the question, so let me know what else I can add and I'll get it up there.

Thanks