So I just bought a house and started some repairs and the city turned up and informed my contractor the building has been condemned and has an existing demolition order.I just assumed this kind of thing was supposed to be made privy to the buyer before they purchased the property.

Been a while.Bought Commercial 1acre lot with existing Tenant amongst Multi-Family and single Family.

Borrower shall occupy, establish, and use the Property as Borrower’s principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower’s principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.Is this just boilerplate?

Paying off my existing mortgage that would leave me with 80K to put towards a down payment & Reno’s for the new property, which doesn’t leave a lot of options here in Ottawa.

If you have high demand, you will always have the freedom to choose whether you sell homes or not, either to the existing residents, or to new residents as they become vacant.  

For a rental unit which has an additional tenant joining the occupants of the rental unit thereby resulting in an increase in the number of tenants existing at the inception of the tenancy:(a) The landlord may increase the maximum rent or maximum adjusted rent by an amount not to exceed 10% for each additional tenant that joins the occupants of the rental unit, except as follows:  (i) This Subsection shall not apply if the landlord had actual or constructive knowledge of the additional tenant's occupancy of the rental unit for more than 60 days and has failed to notify the tenant of the increase pursuant to this Subsection;  (ii) If the additional tenant joined the occupants of the rental unit prior to the effective date of this amendment and the landlord had actual or constructive knowledge of the additional tenant's occupancy of the rental unit prior to the effective date of this amendment, the landlord shall not be able to increase the rent pursuant to this Subsection unless the landlord had notified the tenant of the increase within 60 days of the effective date of this amendment;  (iii) This Subsection shall not apply for the first minor dependent child (or first minor dependent children of a multiple birth) added to an existing tenancy. 

Now after decades working a 9-5 at a great company, the goal is to retire soon without financial worries and then segue to larger real estate projects, and hopefully start a business in Nepal, where I was a Peace Corps Volunteer many years ago. 

If purchasing an existing lease it's the remaining term that needs to qualify (must have 30 years or more left), not the original lease.

@Raymund Emperoa to my knowledge they don't exist online.

@Jared Wilson The situation you described as your direct personal experience on the topic was not a break in the chain at all, but simply the existence of a quitclaim deed in the chain.