Secured LoCs, outside of a HELoC have become more difficult to obtain from residential lenders over the past few years - I would suspect even more so in BC with the frothy market in the lower mainland.Why not simply place a mortgage?  

@Randy Friedland  I suspect most folks after its all said and done with a few hundred K to invest would probably have a better day if they just hooked up with a really good local HML.. get your 10 to 12% consistently and be diligent on collateral value and borrower..Not to beat a dead horse but I made a living in the late 90S to 2007. ( one of my divisions) all we did was foreclosure rescue..

I suspect it's a temporary phenomena.

When in court just simply describe the exact timeline that you have laid out here.1) You recently bought the property on xx date (Bring recorded documents from purchase)2) You then went to speak with tenant on XX date and were provided with the lease (ensure you have a paper copy) 3) You suspect that the lease has been forged 4) When you confronted the tenant about this suspicion they stopped communicating.5) You provided a rent demand letter on XX date (have a copy of this in hand)6) No rent has been paid to dateThe judge will then ask the tenant what they think they owe in rent.I would like to offer two other comments.First, ensure you have an understanding of how much rent you believe the tenant owes.

@Steve Rozenberg - see the link above by @Rick S.I suspect this is partly a rhetorical exercise, so my answer will be brief if not obvious. 

As a rule of thumb, you should expect to spend 50% of your gross income in operating expenses, so the fact that the owner is basing asking price on an NOI derived from only a 29% expense percentage is extremely suspect.

I always suspected Brandon wore makeup ...

house plans that you think will sell.... site plans.. go to planning and building department inquire about submission and fee'ssubmit said plans and off you go.WE used to do public reports in CA... but then law changed if you ( except condo's) if you had public water Sewer and franchise power it was not required.. but if it is .. this was done through the RE commission assume its same there.. go to their website down load what needs to happen.Many jurisdications will require a GC license # on the plan submissions but I suspect you have a builder. 

I have not seen your home but I suspect planning for $1150-1250 range is more realistic.

I suspect Salesforce will be the same.