I bought my first property at the beginning of the housing crash.

But im only 34I've looked at old posts and before the crash 7-8 percent was considered a good interest rate on investment property, now people are upset if it's over 5. ha

As you said, minimum credit scores dropping under 600 are definitely a warning sign.However, the lending environment is still much more conservative than it was during the bubble, and I believe that will act as a deterrent to a total crash.  

@Colin Clark Hello I was an active realtor back in 2004 until the crash in 2008.

Some would hold the money and wait for the Real Estate crash which will happen sooner or later and have cash to buy up a lot of property at discount prices.  

While i have never personally managed a property i did work at a company handling property management like tasks for a 186 unit development project while he was building it and got a great crash course while i was there.The main reason that I would like to do commercial is because having a rather large goal of 1000 rental units by the time that I am 40 years old which would be in 12 years from now. 

If you're a total newbie RE investor, I'd say it's a good way to get a crash course on the subject.

I keep hearing about a crash- should I wait for the crash in hopes that I can catch a good deal? 

With the dollar so low, the Toronto market looks much more appealing for foreign investors right now.Basically, it doesn't look to me like the market is going to crash anytime soon.If there is a crash on the market, it will not be easy to predict.

In my building we've had bad debt dating back to 2010 when the market crashed and we had to write it off and track it off the books.