You're already in a great area for passive income, which puts you a step ahead of other new investors.If you have an idea already of the type of investment you're looking to get into, I'd recommend adding some progressively specific keyword alerts so you know if anyone starts talking about your holy grail of niche, market, provider, etc.

You won't get ahead working in that job but you will get clearer focus and learn the subject.Another idea, buy that note you mentioned and simply observe the process, you will learn a lot. 

If you are able to see through guru BS and apply some common sense and critical thinking to trust but verify rather than blindly believing anyone who will tell you what you want to hear, you are WAY ahead of the game already my friend.

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.