That being said there isn't as much volatility in the market historically.

.... mais, je doit vous dire que le météo au mois de Janvier à Saint John ou à Calgary sera an peu different que à Abidjan ;-)You are correct in your observations that your capital will go further in Saint John than in Calgary, but there are a few other things to consider:Calgary is a much larger city than Saint John - with both the good and the bad that brings with it;market appreciation and growth would be higher, though perhaps more volatile, in Calgary;the building stock in Saint John, particularly in Uptown, is much, much older than in Calgary (I have buildings that are older than Calgary itself).  

You can repaint a wall, but you can't fix an alcoholic tenant with a volatile temper and a habit of putting his fist through walls.

Keeping that volatility in mind would like to share the following 2 points 1) Break even cost/month: What is you minimum take home MUST BE to maintain what you have now ...

Less volatile if the market goes down. 

The real estate market cycles lasts generally 5-7years, but may be shorter, longer, more or less volatile (higher + lower peak and bottom) depending on many variables.While I think you've got a good strategy of hoarding cash in prep for a market bottom, I think your comments about a major crash are unlikely...

So, they're going to have to help me come up with a solution or face the consequences on some level, even if it's being confronted with the facts and having to account for it and decide if it's worth the risk to them to hold to their current position.Any thoughts on possible approach that is assertive, but not volatile?  

There are many ways to go but its safe to say at 59 real estate is somewhat safer/less volatile than the stock market.

The returns in REI are no doubt much better (and much less volatile) from what i've seen & that's why I knew I couldn't put off learning about REI for a couple more years.

You are giving the private lender an opportunity to earn an above average return backed by a hard asset that they can touch and see with a consistent and predictable income without the volatility of the stock market.