QUESTION: I will be leaving the country for 2 years to work overseas. Given the quickly rising home prices in Calgary, I wanted to buy a home before I leave. When I return in 2 years this home will become my principle residence but for the next 2 years I will rent it out. Can I deduct mortgage payments as a rental expense for the next 2 years before it becomes my principle residence? Also, if I renovate parts of the home and replace the appliances immediately so the renters benefit from them for the next 2 years, can I deduct these expenses or a portion thereof?
Thank you,
