Hi Trevor. I can only speak of my experiences here in Ontario. Banks won't touch a grow op or mould related property. We use private money to purchase these. Also, having a repair estimate from an environmental contractor really helps in negotiating with a bank to purchase their "non performing...

All good points. I would suggest that you hire an environmental contractor that specializes in mould, asbestos & lead paint abatement. Remember its a cash deal & you'll need deep pockets. Doug

Contact the renters & offer them cash upon their moving if the place is left in good condition. Perhaps first & last for their new place. Only give it too them once they've moved & you inspect it together. Doug

Have you seen any photos of the condition of the triplex? or just her word?. I'd call a restoration contractor who is a IICRC member www.iicrc.org for the Moncton area . They can give you a detailed estimate of damage repair. You can make a decision once you have that info. Hope that helps. Doug

What protection does the renter (purchaser) have if the landlord (seller) defaults on the mortgage prior to the renter exercising his/her option to purchase?

I just sold my duplex in Collingwood ON. Fire Dept inspected. Had to install 1 sprinkler head in the room with the boiler. No charge for the inspection & issued certificate once they checked work. No mention of a electrical inspection.

In Ontario homes built before 1985 are all "suspect" .Ontario Reg.278/05 applies to every building in which ACM (asbestos containing material) has been used including a single residential unit if the unit is rented out to someone other then a member of the owners family.Drywall compund, plaster...

Polyurathane foam injection on the interior into the crack followed by hydralic cement. About $500.00 per crack here in Ontario. If you want to try it yourself use just the hydralic cement or" plug tight" as it's called & fill/cover the crack. Under $25.00. Big box stores, hardware stores sell...

Try & do renovations to a Heritage building. Night mare. The Heritage Committee can be very restrictive. Doug

With the cost of Insurance ,making a claim unless it's a large amount will really work against you in the long run. Doug

CMHC, Canadian Construction Assoc.,IICRC,IAQA, EACO, all provide guidlines for safe remediation. EACO may just be in Ontario. Anyway, whether you perform the remediation yourself or hire a remedation contractor follow the guidelines & have a post clearance done by a professional. The reason is...

Talk to a lawyer who specializes in this. David Altro of Altro & Assoc. is one. Jim turned me on to Altro's book Owning U.S. Property the Canadian Way. www.altrolaw.com Worth looking into. Doug

A cross boarder trust as Rickson9 suggest from Altro Law is worth a read. Doug

Do both. Buy the Timmies & funnel your profits into real estate. Doug

Is this a single or two storey home? Either way it would be around a $150.00 ea. Doug

If the bank is on for a first at 80% does it matter to them that the vendor takes a second for 20%? Thus giving you a 100% financing. This would allow you to use your own money for renovations. Doug

I've used the Terminator from Landlord Legal. April is great! www.landlordlegal.com 705-812-2267 She works only for Landlords & knows all tenant issues. Doug

You may be able to assume the exsiting mortgage & have the seller hold a 2cd . Doug

Thermal imaging is great at finding cold spots/heat loss in insulation covered by drywall including all the other things you mentioned. Doug

It is very hard to find the deals here in Ontario. Not like the fire sales you see State side. It is my understanding that Banks are required to get close to market valve for their non performing assets unless they can be convinced the property has sustained substanial damage. Doug