I feel the market is a little overpriced but everything looks good as far as P/E ratio in stock market, healthy employment, etc so I'm comfortable still buying(again buying good with some equity in case i want to dump).

Not picking on you because I have this conversation with syndicators and pe guys all the time as well but that's the reality in the Seattle area.

However, you are correct, the low mortgage delinquency rates in Canada (mortgage arrears are < 0.5% nationally, delinquency is less than half of that again), mean you will be looking for an even smaller set of motivated vendors in an already small market.The provinces in Canada are almost evenly divided between those with judicial foreclosure (BC, AB, SK, MB, PQ, NS) and those which use Power of Sale (NF, NB, PE, ON).  

I live in Ventura, have been teaching elementary PE for 10 years, and am interested in getting into real estate investing on the side. 

I liken it to buying a stock solely based on the P/E ratio.

Simple question for those of you more entrenched in the real estate world.Im a civil engineer, and i work for large developers and REITs in NYC. However, im a couple years away from getting my professional engineering...

I would probably add $1000-2000 into my long term dividend stock portfolio (if one happens to have a really good price dip or low P/E), and then finally put the rest towards the one rental mortgage I am focusing all extra rent on paying off first.

What does the foundation contractor or licensed structure engineer (PE) report says?

I went with a generic sounding s-corp with 2 names like the PE and fin svc co's do (Berkshire Hathaway,  Merryll Lymch) and(we are near the Cascade Mtns, so i put Cascade in the 2nd name). 

And with your experience of seeing how easy it is for the PE shops to raise boatloads of capital?