Hello BP Community! I'm Florence, and moved from the most expensive market in Canada (Vancouver) to the second priciest one here in Toronto three years ago :)

I purchased and sold condos and learned a lot from family who did the same, and am comfortable with tenant selection and management although we rent to yuppie A+ tenants or students which makes it much easier.

I am contemplating stepping out of my comfort zone as I consider next steps. I have a 2-bedroom condo in downtown Toronto and was inadvertently house hacking before I learned about the term by renting out a room, and fortunately seen significant appreciation after minor upgrades and general lift from the market.

I'm debating between refinancing my property to purchase a second condo either to move into or rent out (20% down up to $500k), or selling my current home and attempting to find a townhouse or house with an income component such as a basement to continue building equity. I love the idea of multifamily housing, but with work demands, lack of handiness, and units going for well over $1M, I would look to partner with investors and and learn along the way.

It feels a bit risky as I am a single income earner in a hot market that may be cooling off after the government's latest mortgage changes, so I will continue to read here and look forward to learning from all of you fabulous and friendly folks!