Yes, you can deduct mortgage interest as well as property tax and maintenance from your investment property in Canada. If you own multiple units and you are the one managing them you should also open a property management company and charge your properties a management fee which is also tax deductible.

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My wife and i are one of the many people who didn't benefit from flipping a house. we didn't take any money away from selling the house ($0 at closing) after spending $50,000 on renovations. it's been difficult to find info. on the internet (or tax offices at this time of year) about what this will do for us at tax time. i know the renovations and costs (closing, mortgage interest, points, etc.) are deductible, but normally that would help the taxes you pay on the capital gains. in this case, does it just balance out our salary, other investments' interest, etc.? any insight would be great.

If you normally do your own taxes, this year would be a good one to hire a pro.