I have a question if I didn't meet the RO and I own a house in Canada, noting that I sponsored my wife and she has a valid PR and my child has a Canadian passport.
What will be the status after my PR expires and I am outside Canada, how can I enter Canada again to manage my house, rent it or sell it?
You need to meet the residency requirement in order to keep your PR status. The fact you own a house in Canada is not relevant.
If you are outside of Canada and your PR card expires, you can either try re-entering Canada through a US/Canada land border (you would need a US visa to do this). There is always some chance you may be reported at the border for failing to meet RO. If you are, you will have to go to a hearing to argue why you should be allowed to keep it. Alternatively, you can try applying for a Travel Document on H&C basis if you have some sort of humanitarian and compassionate reasons for not being able to meet RO (economic reasons like working outside of Canada aren't accepted).
Yes - if you lose your PR status you can apply again from scratch - or your wife can sponsor you if her PR is still valid AND she meets RO.
Just to add - what are the real facts of your story? Yesterday you posted a question asking about getting welfare while your wife's sponsorship application is in progress. Today you are asking about keeping your own PR status with a wife who is already a PR. Which is it?
You would have to officially give up your PR status before you could apply for a TRV. No - it won't be automatically rejected. It may be approved or it may be refused.
Just another note... Do you currently meet RO or not? If you don't, you should be aware that this may result in your wife's sponsorship application being refused.
