They get listing data from each MLS free of charge - a service that is paid for by Realtor fees and enforces strict guidelines to ensure accuracy.They then put together great front end search tools to attract lots of buyers as well as marketing the heck out of their service.They take those buyer leads and sell them back to Realtors.

Also, during the year, a high speed ferry service is starting that would from downtown Nanaimo (about 8-10 blocks from the property) to down town Vancover, one of the priciest cities in Canada, i believe this, along with the cities redevelopment planb for its downtown would make the property a more attractive investment for possible private lenders.

As far as my understanding from what you posted, I don't see what is the asking price by the owner (unless they are waiting for you to make an offer).You really have to make sure that you have enough profit margin/reserves in order to make it worthwhile for yourself while being more attractive than all cash offer.In regards to owner financing by yourself, you need to make sure you offer better rates than hard money lender, which you are with 8%, you can even go a bit higher.Your bullet points are good to convince the owner to go with owner financing, just make sure the finance is not too tight on your end to make a profit

I'm sure she will get multiple offers, but I'm hoping mine will be more attractive by allowing her to stay.

And in many cases, there's a sweet spot of distance from the city itself because most folks up here really dislike "city life" but still like being close to the cultural attractions.

Obviously newer is more attractive, and you would have to see what your repairs you need to complete, and what's the cost to see which is better. 

I had a feeling they priced low to attract  more offers or waited it out (was a homepath property) so they could accept a cash offer.

Solid town but plenty of rough areas too. you can buy properties cheap but do not let that attract you to buy.

I would absolutely replace the cabs, with 42" uppers (replacing that inaccessible area above the doors), a 24" deep cab over the reefer with a return or narrow broom closet on the left.Here's an idea I've used for an inexpensive but attractive alternative to granite for your price level: Have a local shop fab up black plastic lam tops with square front edges, and NO 4" splash.

If the price you pay for the HOA's equity plus the existing secured debts is attractive, go ahead and buy, but don't think for one minute that you're going to pull a fast one over the lender.Oh, and be careful about equity skimming jaws should the existing loan be Federally insured.