It will also likely be posted on BP going forward by yours truly in the "networking events" section of the website. :)

OREIO is a real estate meetup group in Ottawa and their next event in on 8th March.

Ideally, it would be nice if I could avoid foreclosing in the event of a default.

Great way to start networking and pieces of education to fit your real estate direction.Big suggestion, start looking up local REI events in your area and start gathering your power team and network in the area you are prospecting.Great way of having the best of both worlds of online and in person connections.Let me know if you have any questions.Regards,Joe Scorese

The meet-up and networking event will be tomorrow at the Caboto Center 1055 wilkes ave on feb 27th from 6:30pm to about 9pm.  

But that is just me.In any event 550K sounds excessive.

But in the event there is a loss, it is essentially a short sale scenario.  

It is very common to use Docusign or Ziplogix Digital Ink to electronically sign purchase contracts even when they are in town.In a few instances a lender or seller may require "wet ink" but that is becoming pretty rare.

This is a great event to meet other investors and network with a great investor minded realtor, title company, and hard money lender. 

You need the tenants lease to determine what his rights are in the event they pay the rent.