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Wow, I had no idea. See, when I told you you were a bad person I spoke too soon. I didn't realize you were going to respond like this. I'd like to retract my previous statement.
You're a terrible person.
I believe that the actual policy is that if the games cannot be held in the host city (i.e. because of a natural disaster or for whatever other reason), they can move them to the previous host city. Vancouver has all of the facilities, the procedures are in place and everyone's already put this show on before.
The biggest issue in terms of logistics would be making sure that the appropriate PEOPLE are available. Running an olympics takes a huge amount of manpower around the entire area, Vancouver required an ungodly number of volunteers. You need security forces, a large number of contractors to set up various campuses and event hubs.
I honestly do not doubt for one second that they would be able to manage it. Even if the city had to shell out piles and piles of money, the net benefit to the city is astronomical, and Canada, BC and Vancouver would find a way to make it happen. Consider that Vancouver spent insane amounts upgrading the highways, building an entire speed train line, building new rinks and facilities and upgrading the alpine venues to host this less than 4 years ago. To get all of those benefits again and not have to spend any of the capital cost, it's an absolute no brainer.
There's actually a petition here to do this: http://www.change.org/en-GB/petitions/international-olympic-committee-ioc-relocate-the-2014-winter-games-to-vancouver-2
Now, let's be clear, this is almost certainly not going to happen. It's about a 1 in 100 chance of this actually happening. But I really wish it would, because honestly, I don't want Russia to see a penny of the revenues this Olympics is going to generate. If you want to hit them where it hurts, hit them in the wallet. This would be the biggest "fuck you" possible, and it would be totally justified.