It's a no rent control area btw . 

I had an O & E run and it shows a DOT and a mortgage of $56,000 borrowed 33 years ago.

As long as you think they can make payments it seems like a no brainer. 

@Jordan Lester, you can also get a 'no doc' hard money loan where they don't look at your tax returns.  

While this may seem like a no-brainer, they may hope to get a higher bid closer to market value, and so reject my offer and proceed to foreclose.Alternatively, I can let them foreclose and I will lose the property, but somehow have them pay me whatever i paid for it?

I have clear guidelines of what I'm looking for, and if the property does not fit within my guidelines, then it is a no go.

Its a no questions asked type of deal and they are already know ahead of time what it will cost them. 

@Jeff StansberryThat’s a no good situation to be in.

In BC, every previously ( before 17 Oct) signed rental agreement is grandfathered with a no cultivating (growing) canibas clause, and if you have a no smoking clause then this automatically includes canibas.  

  ( PS EXTREME HOARDER ended up having to bulldoze the entire home LOL)so fast forward to now.. she wont sign.. she goes dark we notice here for 6 months then finally file suit. that takes a year or more to get to a trier of fact ( judge).. she stalls twice more.. and on the day of trial she is a no show