This is almost certainly going to come down to the actual situation you are in. The most important question to ask yourself is: do these shared properties form some kind of base entity? If the answer is yes, you are probably safe having a base class. If not, I would stay away from it and just put the properties on the individual models.
If you are leaving out some properties in the create view model that become editable in the edit view, the shared properties probably do not make up some type of base class, and you should avoid the base view model approach. If the extra properties are just helper properties, like select lists, then you can safely have a base model that has the common properties.