Also most foreclosures require a cash-in-hand purchase so make sure you bring enough cashier's checks to cover the buy and know ahead of time what your high number is.  

Is it time to break ties and go ahead and spend the needed $10-15K now and go for market rent of about $1100 to $1200?  

While I don't necessarily disagree with you, that is hard for a non-local (or even a local) to say for sure ahead of time ... but it sure is easy to tell after the fact if it comes to fruition ... that is the time to snatch them up at fire sale prices.

You are being indemnified for the damage, you should not be coming out ahead and making a profit on the claim. 

Looking ahead to the busy spring months, Yun expects to see continued ebb and flow in activity as new supply struggles to replace listings that are going under contract at a very quick pace.

Also, I wondering if the borrower owed taxes to CRA if CRA could jump ahead of me to get paid first in the event that the borrower defaults and the property has to be sold?

Thanks ahead of time.

I would ask them ahead of time or seek professional advice. 

If you don't have experience with construction and looking for repairs, then go ahead with the home inspector until your more seasoned. 

The US education bubble is coming to a head eventually.