If the owner dies then the basis gets stepped up but your contract remains valid.

Hi @Dali Suarez,Congrats on wanting to take action as that's the most important step! 

They could have expressed interest however that could be 10 years out.On the idea of the government selling you the property - it is a possibility but I imagine the building would need to be demolished or totally renovated to make it usable for the general public. 

I'd planned to sell my current 4 bedroom rental property and purchase a duplex-fourplex for my first step.  

I have come to the forum to see if anyone else has had this similar experience and what steps did they take to not allow this situation to stop them from investing?

I have come to the forum to see if anyone else has had this similar experience and what steps did they take to not allow this situation to stop them from investing?

Also, interest rates have climbed since you last purchased your property, so you'll be stepping into higher interest...

I imagine you could roll out the updates over time, so that you aren't facing everyone giving notice at the same time.I bought a duplex where one unit was month-to-month.

I'm ready to take the next step which is MF units.

So you have already made taken a great first step!