AMERICAN here...yes it sucks
I'm actually thinking about about working remote in Toronto. To my understanding, I can work here for 6 months. Id rather use my American dollars else where tbh.
The USD is stronger than CAD. A place downtown near CN tower is like 1600 USD. In America that would be around $3000 USD or over 4000 CAD.
We are getting scammed! Lets not talk about P4P...I can go on and on about that. I was truly amazed at how organized and relaxed the Toronto spas are. In America they have nothing like it.
The government is crazy. The gun violence is crazy. There was a mass shooting at a church in my state about 40 mins away from me. Dude burned the church down and killed 4 people. USA is truly atrocious.
Working is different. There are, like the USA, regional income taxes as well. If you work for someone, they will have to report it.
Btw, you will want to take a closer look at living in the CN Tower area. It can be very noisy, lots of traffic, lack of local services(grocery, various services) because it's all about servicing the Dome, ACC and tourism. Although St Lawrence Market is close enough and awesome.
If you want a bit quieter, lakeside with paths, decent transit, and good services walkability, look into all the condos around Lakeshore Blvd and Parklawn Rd.