When values have reached a level as low as you're describing, it will likely continue in that direction (down) until an investor buys most or all the condos and repositions the property.Sorry for the cold water on this deal.  

We talking 246 GT Dino Ferrari, 1939 Packard, 68 Pontiac Firebird or 1970 AMC Gremlin= owner carry, 1st position, 2nds, under water Vs. equity, performing Vs. default seniors, purchasing partials.

My house is literally only a couple of miles from the water, but it's actually not in a flood zone (350/yr premium flood figured in the 1900).

To add pictures click here:My sister lives in Vancouver across the water. 

Are the water lines galvanized? 

I need some advice on contractor/investor partnerships and property LLC information as I am starting a few endeavors that are leading me into uncharted waters.

I have seen some fascinating Eco friendly houses here in Australia and have considered such a business for the Colorado market, but some of the neatest rain water collection systems would be challenging in a cold climate.

This place is kinda like getting a drink of water from a firehouse.

Asking Price $180,000Gross Monthly Rent = $2,650Additional Income = $175 (plus or minus; laundry)Owner pays water & trash (I don't have numbers yet), tenants pay electric.Taxes = $1,400/yrBased on those numbers it seems like a something to take a closer look at...agree?

Maybe not using the water while under construction allowed bacteria to get a foothold?