But the building needs a lot of work to the exterior and my concern is that it's market value is extremely low because of this and many other defects. 

It's really just being neglected and with extremely basic property management could get positive and very lucrative cashflow.

I knew i'd seen this just a bit ago:  a TED talk, "While financial crashes, recessions, earthquakes and other extreme events appear chaotic, Didier Sornette’s research is focused on finding out whether they are, in fact, predictable.

Extreme hoarder houses have been our target the last 2 years..

Loopholes, red tape and costs of construction has made entry level housing extremely difficult to build and make any kind of profit.

So yes, I've seen people operate in this manner, but there is no denying that it is extremely risky. 

The resources and insights you both have shared have been extremely helpful to me thus far.

They are extremely good at sales and will reach your heart strings for a sale.Be careful but have fun with it.Good Luck.  

As @Ivan A. noted, due diligence is critical, you don't want to inherit environmental liability as it can be extremely costly. 

I'm not a beginner educationally when it comes to real estate, I know some of the terminology and how being a realtor works. here are the questions I have so far, any modifications or additions would be extremely helpful, thank you. p.s. the branch is the top branch in its area, that being the lower mainland of bc where real estate is currently very hot and it's a populated city if that makes a difference.what are the total start-up costs once your a realtorwould there be a place for me at your office working for either yourself or someone elsewhat can I expect my job to consist of doingwhat would you say is your main source of generating leadswhat's been most effective in keeping everything organizedwhat's the structure of your teamwhat's the splitdoes Remax offer any training opportunitiesWhat are the features of some bad agents you no?