My concern is if the properties I am financing are involved in a cross collateral agreement that relates the apartment sale, and there is some kind of default, would the bank be able to step in (because their agreement precedes my first trust) and prevail to recover the properties that I have the first trust on?

Next step, go get educated in apartment buying / syndication / financing.  

I would definitely recommend them at this point for an initial call to see what you think. 

I'm in the process of purchasing my first property and initially it will be my primary residence.

I have a lot of goals for my Real Estate Career and I am sure making this post is going to be a step in the right direction! 

I'm in the process of purchasing my first property and initially it will be my primary residence.

The Finance Minister announced steps to curb the influx of foreign capital into the Canadian Real Estate Market  (in which he really meant TO and Vancouver ... down east we are not really suffering from the influx of foreign money ... sure we lost a 50-unit deal a couple of years ago to a Chinese investor, but the property was not worth what s/he paid, so we'll see it back on the market eventually).That said, Ottawa is only removing a loophole which has allowed foreigners to purchase a residence in Canada, claim it as their principal residence and then benefit from the personal residence {captial gains} tax exemption when they sell.  

He said hd/lowes can sometimes beat him on the carpet + install initial price, but where they get you is the "Specialty Items" like tack strips and transitions that aren't included and are grossly overpriced.

Ill have to look up the information or contact the real estate agent again and see if I can send you the details.As far as im aware, this bank will provide loans that cover the initial cost of the rental property plus expenses that need to be covered for fixing the place up.

.-  Initial asking price is $250,000 but with zero to no comps around here, I'm struggling to determine if its a good deal.