Appreciation is a very market specific topic that I am sure we can write essays about and it is more volatile than returns from rent.

However, on the macro level, Canada as a whole isn't very strong right now and there is tons of volatility.

Depending on how much you end up paying for the new place, you could parlay some of that equity into cash flowing properties in cheaper markets, to diversify your holdings a bit and get some more stable income in a market not as prone to volatility as NY.

If you look at stock market volatility, I'd say this week we are starting down that path.

@Ryan Weimer there should not be that kind of volatility in the rents and those numbers don't even make sense. 

Within your Roth you could get more conservative with stocks and add in bonds or other low volatility investments and cash. 

How much, and what type, of each investment is dependent on how much volatility the client is willing to accept, when the funds will be needed, and the client's goals, abilities, and tax situation.

It's important to note that STR income can be more volatile than long term income.

Less volatility in given markets.

Vegas is a SURE-THING in the long run but higher than average volatility should be expected in the short-mid term. imo