Is the real estate market different in Canada?

[Andrea Echeverria]

Hello everyone, 

Regards from Eastern Canada.  I am a newbie in the real estate business and I am hunting a deal to get my first property; however when I am trying to follow the suggested rules to analyze a deal it seems the market here in Canada is a bit different.  For example, the suggested rule that your monthly rent income should be at least 1% of the price you paid for a property seems a little bit too high for the market here in Ontario, Canada.  Can anyone give me your opinion on this?  Thanks in advance!!!!

Andrea