@Joseph HammelI wanted to avoid going too deep down this foxhole, but it seems unavoidable now.A lot of that is due to confusing use of terminology.

Take a deep breath and check out your options, also you were there first so if you have relationships use them to reinforce that you have been a good neighbor and no one knows how good a neighbor he will be.  

What are other options to buy and hold while recycling my cash and not getting too deep on negative cash flow?

Dive into market research for your preferred location.

He was so serious that I started believing that he really wanted me to get hit by a bus lol)Anyway, before I go any further and give amo to the moderators to remove this post for "self promotion".Let me dive into some value that is not in anyway related to our company (Even tho this is a thread about our company that wasn't started by us.

You will have to buy at a very deep discount since your rate will be very high.I follow that guy as well, and it does look like he does good work. 

Do you want to spend your time on the day to day management of a property or be deep in the weeds of project managing a renovation or do you prefer to be more hands off?

Hello Everyone,My name is Fernanda and I live in Upstate NY (CNY) and I always had a desire on dive in into Real Estate Investing (I work in a Real Estate Office and I love it - never had a interest on becoming a Realtor because where I live there are too many Realtor for a small/short market, if you don't know people and not familiar with the area you will suffer to make any moves). 

If you have a property you feel is distressed, then dive deep into the local courthouse records to learn more (assuming that's public info in Montreal), then go out to the place yourself.

Eat Breakfast at Cafe Brasil in Deep Ellum, lunch at someplace in downtown Denison, stop for coffee at Sandwich Hag in the Cedars (Dallas) and then have dinner at Lockhart BBQ in Bishop Arts.