The Newfoundland market has exploded since 2020. Sale and rental prices have increased. Rental demand is outpacing supply.
So yes, profit can be made in Newfoundland where, according to a CBC anecdote, a landlord in Paradise, NL recieved and impassioned please from a family of 8 to rent a 2 bedroom appartement and was offered over rent in cash sight unseen to secure a rental. (22 June 2022).