With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.
When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.
