I should also mention that houses in Canada are also much higher than in many places in the States.
In my local market, an average house is now about 400 grand and a townhouse is about 300 grand. That affects what I think I could do.
But one thing I would do is get something marketable that I could run out of my home and maximize those tax deductions like mad.
Yes, big difference in prices. With 3 rentals, one should be able to afford the upkeep and taxes on the 4th house - AND utilities and food.
If I had that kind of base income and no house payment - my options would EXPLODE!