Both are in great condition with a number of upgrades so they get some of the best renters with the highest rents for the area.  

Condition of forfeiture; right to cure A purchaser's right to exercise an option to purchase property under an option contract cannot be forfeited unless a breach has occurred in one...

After dealing with the clerks and automatons of city government, it's easy to become conditioned into thinking that everything must be conducted through the bureaucratic process.  

mcId=z73159&radius=25&...In addition, if condition permits, I highly recommend www.audible.com for tons of real estate reads.Hope that helps.

Make notes on what is the rent and the condition of the property.

I always like to peruse the realtor.ca website and I have noticed a 2 bedroom unit in decent condition for under 100k!

Strategy should encompass what areas you're targeting, how you're going to market to those areas, what methods you're going to use to purchase property, how you will monetize those purchases, and what your exit conditions are. 

Based on the income, location, and condition of the property I think it's work 199k, but also want to get the best deal possible (and the owner even said she understands I'm looking to get a good deal). 

@Jeff Macdonald, With your limited experience you could either buy a single family or 2-4 building with 20% down, 30 year fix mortgage in good condition and learn to manage it and do work as needed.

This typically doesn't take much time because I've gutted the places shortly after purchase so everything is in new condition.