Appreciation vs. Cash Flow? Which one is more important?

[Dhruv Sarang]

Hi everyone!

I'm planning on investing in a pretty expensive market Victoria, BC where the 1% or 2% rule doesn't necessarily apply. I'm really new to investing and just wanted to gain clarity on this topic Appreciation vs. Cash Flow, which one is more important? I would love to hear from ya'll who have experienced a plethora of scenarios. Thank you in advance!