I did manage to dig a bit deeper and found out that the municipality of Edmonton has an advisory body still active which offers a full suite of forms which have been legally reviewed by their own real estate lawyers and by the dispute resolution courts.

There are quite a few active Buffalo people here so dont hesitate to reach out to any of us. 

And now you are playing with "house money" since the refi was so much more than your original investment.

Are you just fixing deferred maintenance and trying to narrow the $100/m market gap or have you looked at upgrading the interiors to be a B+ finishes and pushing rents a little more for a heavier value add play?

First off, I do not own any apartment buildings and do not play an apartment building owner on TV.

Hopefully it can become an active place in the coming months. 

Considering capital plays a significant role, would you avoid these areas? 

I'm in Northern VA, and have learned ALOT from the active members in this group!  

I don't even know where the closet part came into play, but I have always heard this.

You'll need a much lower priced property with some value add or larger equity spread, and also have the funds to make the payments in case it doesn't play out so smoothly, or there's delays getting renters/lease-option buyers, etc...