Stock pile as much cash as you can and always save at least 3-6 months in expenses so you never have to use those credit cards again.  

Timing any market, whether it's stocks or RE is not something I'm willing to bet on. 

I've always had an interest in real estate but never took it too serious and i just felt with the economy slowly recovering it wouldn't be a good idea to even waste my time in that area to dabble with RE investments let alone use my dead money (stocks & funds not earning any money or interest) I had sitting around to pursue it.

@Peter Crisp,  I am a little limited on what type of investment (stocks/ETF) I can buy as I am not currently Canadian resident.  

Now 5% is a negligible return for most investors but given the property is already working its a great dividend play on any money I make and a more reliable dividend play then stocks or bonds.The RubI have watched friends, friends of friends, and my parents work to find the home runs that make huge dividends for them.

I think that the market in two years (which I'm not even going to try and predict) will probably determine what makes the most sense at that time.  

The most important factor would be your income, the amount of current outstanding debt and amount of new debt you want.If you have a sizable liquid assets (cash, stocks/bonds, life insurance, etc.) then some lenders will put a lean against that and let you borrow.You want to find a mortgage banker who is knowledgeable and has access to many loan programs.Please let me know if I can answer any other questions.Thanks,Upen Patel

Instead, he can put his money in an index fund, such as the SPX (S&P 500), especially now that it is down due to the Greek crisis and (less so due to) China's stock market collapse.  

You'll have a much more predictable cash-flow from each unit, which adds value to the property, which makes it 1) more attractive to potential buyers, but also 2) more valuable as leverage.  

I started investing in a set it and forget it type stock/index portfolio and it has done well.