@Roy N.After some reading I also came to the conclusion that unless you're credit is excellent, you will be subject to fees from 0.5-2.0%, however I feel this must be negotiable consider expected repeat business.Unfortunately there are no such live-in opportunities in 2 - 4 plexes in Vancouver at any sort of reasonable price point.

John - did the foreclosure process conclude prior to BK filing and only the transfer of deed remained, or did the BK filing precede foreclosure conclusion? 

Lately I have decided to get into the senior housing and brought me to the conclusion that I really would want to keep this and turn it into a residental assisted living facility.

Once you have a few local investments under your belt and have some hands on experience, then and only then should you consider out of state, but by that time I'd bet you would come to the same conclusion I did which is that there are plenty of profits to be had locally and there is no reason to venture out of state.

I've came to the conclusion that the only realistic way to invest in real estate is to have a good job, to save, and then buy houses for 20% dp.

If it had all the similar upgrades the case study property, than I'd completely agree with the conclusion.

Raising rents on SFRs will never change the appraised value.1) Not true ... buying a SFR under retail market value that is below the comps and then improving it to the level of those comps in a manner that costs less than the value added is forcing appreciation. 2) Like I said, you like multi-family, and that's cool, it's a great way to go and I'm glad you do well with it, but acting like it is the only possible and valid way to make profit in this business is fairly close minded IMO. (1) works but is still and forever dependent upon the comps whereas an economic appraisal ignores all other properties.(2) I never said or suggested that conclusion and forced appreciation is certainly not the only means to achieve profits - - DON'T PUT WORDS IN MY MOUTH PLEASE.

Just wanted to update anybody that happened to be following this thread (I see a lot of threads that start with someone doing something and they never really provide a conclusion after the build up lol).So I partnered with a real estate agent and did some research on the property's history.

But when I considered our area more carefully I came to the conclusion that the market just isn't very conducive.

@Sam Liu, I'm sure you've already come to this conclusion yourself, but just as you are using BP to help with this eviction/bankruptcy situation, I would highly recommend you search and vet your local team (eg, realtors, contractors, property managers, attorneys, etc.) via BiggerPockets.