A PILOT DEPARTING 1RL REPORTS A SINGLE ENG MILITARY TRAINER PERFORMING AEROBATICS BELOW 1500 FT NEAR THE ARPT CAUSING AN NMAC.

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MY ACFT WAS DEPARTING 1RL CLBING ON A HDG OF 095 DEGS. AS I PASSED THROUGH 900 FT MSL AND APPROX 1.5 - 2 MI SE OF 1RL; I OBSERVED A SINGLE ENG MIL TRAINER ENTERING A BARREL ROLL AT MY 10 O'CLOCK POS ON A COLLISION COURSE. I IMMEDIATELY TURNED L AND BROADCAST ON 122.8 MY POS BY STATING 'SINGLE ENG MIL TRAINER DOING A BARREL ROLL SE OF POINT ROBERTS; I AM CLBING THROUGH 1000 FT AND DEPARTING 1RL SBOUND AT 2 MI.' AFTER A FEW SECONDS PAUSE; WHEN I THOUGHT THAT HE MAY BE ON A DIFFERENT FREQ; THE SINGLE ENG MIL TRAINER RESPONDED WITH THE STATEMENT THAT HE HAD THE TFC AND WITHOUT ANY EVASIVE ACTION; PASSED THROUGH MY ALT IN A WINGS LEVEL; BUT SLIGHT DIVE; APPROX 300 FT TO MY R. IMMEDIATELY AFTER PASSING; I TURNED R IN ATTEMPT TO KEEP HIM IN SIGHT. I ASKED MY WIFE TO WATCH HIM AND TELL ME WHAT HE WAS DOING. BEFORE I HAD THE SINGLE ENG MIL TRAINER IN SIGHT; MY WIFE SAID HE WAS TURNING L AND I THEN ENTERED A L TURN AND STARTED A DSCNT TO GET BELOW HIS ALT. I BROADCAST THAT I WAS TURNING EBOUND IN A L TURN AND DSNDING. THE SINGLE ENG MIL TRAINER RESPONDED THAT HE WAS AT 2000 FT AND WAS PRACTICING AN 'ENG-OUT' EMER. I COMPLETED MY TURN AND PROCEEDED ON COURSE; SE AND LOCATED THE SINGLE ENG MIL TRAINER AT MY 8:30 O'CLOCK POS IN A LEVEL ATTITUDE AND AT MY ALT; 700 FT AND A LITTLE OVER 1 MI AWAY. THE SINGLE ENG MIL TRAINER WAS DOING AEROBATICS IN CLOSE PROX TO THE POINT ROBERTS ARPT BELOW 1500 FT AS REQUIRED BY REGS; WHILE BELOW VANCOUVER CLASS C AIRSPACE; WITH A FLOOR OF 2500 FT. ALTHOUGH POINT ROBERTS IS IN UNITED STATES AIRSPACE; IT IS QUITE COMMON TO SEE ACFT XING THE BORDER AT LOW ALTS AND ALSO DOING AEROBATICS. I BELIEVE THE TOTAL DISREGARD OF THIS ACFT TO FOLLOW EXISTING REGS ALMOST LED TO A MIDAIR COLLISION.