I'm posting this because I did have warnings about investing in multis in the city but figured I knew my way around (which I still do feel) however, the warnings weren't for naught.

I would talk to an experienced real estate attorney.I've spoken with other investors at these auctions, and they warn of this exact situation happening to the purchaser of the sheriff's deed....that is, a shark-investor undermining an another investor's deal by using the homeowner to redeem the property, and walking away with the quitclaim deed in hand after paying off sale amount + interest to the first investor during the 6-month redemption period.

I've run across some good advice on message boards but be warned, I've run across some bad advice as well.  

A warning though - these type tenants tend to have more "drama" than a retailer or some office type.....I've been at this for less than 2 months and already getting sob stories.  

So, it appears no formal eviction will be necessary although I will certainly be warning the local landlords.I feel like I have to knock on wood because this feels like the best-case ending for a weekend that was absolutely nuts! 

With your scores, your hard money options are great especially in combination with private money.But be warned, this road is best traveled by those looking to buy, rehab and flip, as hard money lenders charge from 11% interest and up on a loan. 

warning: can be addictive, and can keep you up way too late at night.best successes,sage

An HVAC can go out without warning, obviously a roof replacement can be anticipated.2) A long drawn out eviction process where the property does not generate income for several months.

A Realtor that I talked to who had visited the house warned me that it appears like there was some water damage in the kitchen and that the house was in need of a number of cosmetic repairs.

There have been a small group of folks warning of the GTA's runway condominium market for a few years, but we are now seeing more concern being voiced in the places once cheerleaders for Toronto the infallible.Just last month, Jason Kirby penned this article in MacLeans.