Permanent Residency vs. Primary Residence - ask an

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QUESTION:
I'm a US citizen in the process of applying for permanent residency in Canada.  We have already purchased a "seasonal residence" in Canada.  We wanted to achieve permanent residency status to increase our options for staying in Canada longer than 183 days/year and to possibly even stay in Canada full time if the lifestyle suits us.  Our fundamental question is: can we still maintain a "permanent residence" in the US if we become "permanent residents" in Canada and, if so, under what conditions?  What we would like to be able to do is convert a rental property to our primary residence and sell it tax free after 2 years ... then "rinse and repeat" with all or most of the rest of our rental properties in the US.
Thanks for your advice in advance!
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david ingram replies:
You can have one permanent residence for Canadian purposes.
You cannot rinse and repeat as you suggest because the second you move into your rental, there is a deemed disposition under Canadian law and you owe tax on the increased value.  You can file an extension to pay the tax under Section 45(3) an d elect to pay the tax when you actually sell it.
I am ignoring the US part of the puzzle because the Canadian part nullifies the idea.
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