Although the stock market can be pretty speculative, Real Estate Investment Trusts (REITs) are a way to get involved in additional real estate investing without necessitating additional loans and down payments, of course it is important to save up enough to buy in a lump sum that keeps your cost basis low even with the addition of a commission. 

They asked for proof of loan modification once everything was complete and said they could expedite everything as my file was complete.

Would there be any modifications to the MLA that would help (i.e. getting added to the DOT)?

That said, in many jurisdictions there are specific circumstances where you can terminate leases prematurely, examples are if you, or an immediate family member, are going to make a unit/property your primary residence; if a substantial renovation is to be undertaken which necessitates the property or unit be vacate; or if the building is to be demolished.I am not certain if BC permits termination of leases under such circumstances.This property is in a desirable area, but is none-the-less overpriced whether you were planning to reconfigure it or replace it.

The owner had been in pre-foreclosure but then was able to do loan modifications and property was listed as a regular sale for 309K (3+ months ago) and in Dec 2015 reduced to 299K.

We presently concentrate mainly on Commercial Loan Modifications and Cost Segregation due to the opportunity this tough economy provides...

You could try the double close as noted above, but that necessitates the funding to close.Alternatively, try to find an agent that doesn't mind using the non-standard contract.

The owner has declared bankruptcy, is supposedly trying to save his home via a HAMP modification but that's hasn't moved fast enough to stave off foreclosure.

Using 50% rule and doing the basement modifications you still end up at about $1500 left over after expenses so with your mortgage it's doubtful you will cash flow at all

I'm guessing that would necessitate a lift for the sewer???