Saskatoon also has some great opportunities right now with the market being depressed as it is.

Long answer, yes, but only for much higher cash flow and an area with "little" appreciation, as in, it is not likely to depress MORE.I do wonder though, could you instead turn those houses for seasonal weekly rentals instead of $400/month long term tenants. 

Also, now you are wondering if it will go down even further.Finally, when the market is depressed, well, it looks depressing.

@Taylor Knott My searches here in AZ have been pretty depressing.

Thus, capital will continue to flow into this asset class and continue to depress returns in any market with strong long-term growth prospects.

A lot of people frown on low-income/Section 8 but whether we're in a good economy, recession, or even a depression my bills are paid.

If you were around during 2008/2009 you'll remember how quickly credit dries up in a recession/depression...."

Just a depress area.

It's an economically depressed town that has seen some really hard times.

I do understand that everyone must live where they can afford, but I would always keep in mind that investors who buy in deeply depressed areas often do so because they don't have a lot of capital or experience; they mistakenly think that "cheap" is synonymous with "value;" and they grossly underestimate the actual expenses associated with the building.Many times, these investors get so far in over their heads that they cannot afford to maintain their building, so they end up doing things like assigning appliance maintenance to the resident in a desperate attempt to regain control of cash flow.