The market we are seeing in Edmonton today is not so bad. In fact it's normal. There are a lot of properties to choose from and market prices aren't all over the place.
If you are a landlord the one thing you will have to contend with is renting your property and keeping it rented. Edmonton's vacancy rates went from 1% to about 4% now. That isn't really bad as long as you aren't in the 4%. Make sure your units are well maintained with a good property manager.
Rents are dropping so if your investment property was negatively cash flowing before you had better be very careful. It could turn into an alligator (Rich Dad - an investment that eats you).
Do whatever you can to reduce your costs: lower amortizations, if your bank allows it skip one payment, reduce maintenance and keep expenses to a minimum.
Cash flow is king in this market and actually in any market.
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