Apparently during the time it was bank owned it basically was not managed at all.

I am getting frustrated with the MLS, Drive for Dollars and all the other basic strategies.  

@Doug KeefeHello from the Big Island ;-)That line means that CMHC will allow an LTV of 85% of the {appraised} value of the building or 100% of the construction cost (for new buildings) whichever is lower.It's basically saying if you spend $1,000,000.00 to build a 12-unit building, but it appraises for $800K in the present market, that CMHC will insure a loan principal up to 680K {provided the deal qualifies for the 85% LTV ... many only qualify for 75 - 80%}.Conversely, if you built a 12-unit building at a cost of 600K, but it appraised at 800K, CMHC would only insure a loan principal up to 600K.

I am meeting with the owner to understand his situation, but I want to make sure that I have a basic understanding walking in what I am in for.

Couldn't dig up too much on them outside a basic website and their FB page.

Life there is just a little cheaper than most countries, and in the future im planning to move there and live my life to the fullest.but im little scared to start out, im hoping to find a good landlord soon so he can manage the properties when i buy one, becouse till im goin to live there its around 1200km drive..so im basically hoping you guys could give me some advise on how to sucsessfully invest in a foreign country, buy frome RE bureaus, contract, etc etc etc...  

Basically, that's another $50/month increase in rent, totaling $100/month increase in rent after 6 months from the rental price when I bought the place.This will bring the rents up to market value.

If you learn the basics then you will never want to use your own money/credit. 

That being said I wanted to know if anyone could offer some direction other than the basic, buy low, negotiate a deed in lieu or foreclose and roll the dice at the Sheriff's Sale.

Bryan, so basically as long as the lender is aware of what I'm doing and they are paid, they shouldn't have a problem?