They have very stringent controls on development and are much more tenant friendly than other location

I did some more reading and from what I found it seems that the law is much less stringent because I own/manage less than 10 rental units. 

In all my years, I have never seen as many changes being implemented from so many different angles since the balloon popped.Sorry to break the news folks, but how you use to do things in options and installment contract is dead on arrival.

You are taking a great initial step to educating yourself about real estate and working toward implementing what could be a life-long income strategy.

@Troy Fisheryeah, city of Seattle has been throwing around, and implementing some very investor-unfriendly ideas and by-laws.  

The terms on these loans are much more stringent than a traditional mortgage and usually require 40-50% down payment and a healthy amount of reserves in place to absorb expenses (capex, vacancies, maintenance, etc).  

This means the process is a lot less stringent (based on personal financial statement, debt coverage ratios (subject property DCR/global DCR)) and funds much more streamlined and quicker.In a recent example, a conventional cash out was only going to get me 65-70% LTV around 4.75% with no points, but if I went with portfolio it was going to be 4.99% up to 80% LTV with 1 point cost and terms were 10 year with balloon thereafter, 5 year fixed adjustable rate within the 10 year balloon period, 30 year amortization - principal & interest payments, w no pre pays. 

Do the rules implemented in BC already exist in other provinces

We have been doing it for years and find our best deals, as we've implemented systems, etc.

I enjoy learning about how to value and make offers on apartment buildings and I am trying to implement some new things I've read about.I drove past an awesome looking apartment building on the Northside of Racine.