How much notice is he giving you.  

The market in my area is super hot, and usually in my research when I notice a good deal, it's snapped up within days (if not hours). 

Is an initial 20-50k spread (a spread likely to decrease over time) worth your life and the lives of your family helping you out?

We served the tenant a notice of 45 days (which is what is written in their lease). 

For example, if the Chinese government stops Chinese citizens from taking their money out of China, it will slow demand for Real Estate in Canada.The only problem with forecasting a bubble bursting is that it could be a month from now, or it could be 15 years from now when home prices are 3 or 4 times higher than what they are now.If you buy for the long term cash flow, you'll be protected if house prices decrease.

Talk to other people like the taxi drivers, they tell you what areas in your city they notice a change. 

Thanks @Miguel Dormany, I've noticed and jumped in.

Taylor Johnson I know this post is old, but I've been doing some research in the forums and noticed your post!

My name is Alex, I just put in my two weeks notice at my job in politics that I've held for the past 5 1/2 years in hopes of following my passion in teaching yoga & Pilates and to figure out a way to live a way of life outside of "the grind."

If they do not pay on time you serve them with an eviction notice.