My question is, are they creating excess noise through their activities (loud music, exercise, kids playing, etc.) or is the condo so poorly built that ordinary noise travels easily?

an exercise in arbitrage gone wrong !!!

In addition, subject to the Consumer Credit Code, I may exercise my other rights under this contract, and any right available to me under law.9.

Grant admittedly says that the $100k is an arbitrary number--it's more of an exercise that you can produce income first, then worry about investing that income later.

Even if it is something that you are 100% uninterested in, it helps to exercise the brain and to go through the numbers and try to figure out what the property would rent for, sell for, cashflow for, etc.

We kept the 3's, but just exercised a little constraint.

My wife likes a house we saw for 75k and i"m trying to convince her we need to exercise restraint and just gather information.

If not beware you're likely to get the mortgage called.Do you know the right sequence to follow in closing the transaction so you don't open yourself to a future claim of possible insurance fraud or lawsuits because you have two policies and each point the finger at the other to pay a claim and in the meantime the bank finds out about the sub2 because of the claim and then they exercise their due on sale clause on you.Sub 2's are a great tool to buy properties IF you know what to do and how to do to minimize risk. 

Now these goals and plans may change over time as you get more experience, but doing this exercise will begin to give you a road map for your success.

So this exercise may be futile.First approach would be to multiply the rentable square footage by the market rent for it's existing use.