There many things you need to know ideally before you make an offer.Your first thing and not necessarily be the most important is the first impression when you drive like the building(s) and the landscaping, is it's location good for your tenants, the mix of the floor plans, can you add any value, Make sure when looking at the income and expense records that you looking at actual financial statements.Are there any nearby schools and are there there any nearby amenities and what type of the parking is available to the tenants, how any nearby apartment locations and what, if any, are they doing to attract prospects, look at all units and do not let the current owner trying to get you  not to do that, how does the current rental rates being collected near the market average, does it need any capital repairs or rehab right away,does it have a positive cash flow now, is it being properly managed by property management, and is there any nearby retail development and do its match your target market.

I think your results speak volume for the work you are doing.Can I ask you how you structure your deals?

You can sell with a monetized installment sale, which results in 30 year deferral of capital gains tax, and provides you with 93.5% of your net sales proceeds in cash.

I'm more curious about the results on this than actually knowing the laws in Canada.

The market sometimes (but not always) gives us gains, tenants and time result in paid down mortgages, which results in equity increases.  

In my experience a quiet title action does not result in a Sheriff's sale, a judge issues a final judgement quieting title in your name. 

I haven't been able to figure out what Net Income ROI is, or at least numbers I have tried to plug in have made completely different results than what was listed on the pro forma. 

The end result was professional, but the path to get there was anything but...

You can easily spend scores of hours dealing with this issue and may not have any success.It likely affects your property value more than a few hundred dollars.It may result in happier and longer term tenants.The risk is they tell all of their homeless buddies who now set up behind your rental in hopes of getting an easy $100.It is just moving the problem elsewhere but in this case the NIMBY can affect your finances. 

I would act as property manager for the property, and in lue of fees I would put those funds back into the operating account until those funds matched the initial investment that was needed by the other 4 partners.