Focusing solely on appreciation is highly speculative.

Reassess this number every five years based on the performance of the property and the amount of debt left on the property.If you do this properly, all your surprises will be good ones.If, on the other hand, you are speculating in zero-cash-flow properties that you believe in your heart of hearts will appreciate and make you rich, I wouldn't feel confident saying that you are investing in real estate with FI as a goal.

It looks like from your numbers way to speculative and skinny .

No one knows what, if anything, is happening in the future so to make decisions based on wild speculation would be even worse speculation.

Hard to say for sure, no one knows and time will tell, we are all speculating at this point. 

When you have the cash, start buying in the Cleveland markets, simply the best overall rental market for the last 10 years , I am not speculating ,Good Luck 

No real return that can be calculated, more of a speculative venture with low upside.

Short term rentals also need a good team to do the turnover and in some parts of BC, you can run into extra problems with the speculation tax.

As a result most investing that takes place in Toronto is based on speculating future appreciation.

Are you trying to hold this property to collect rent, or buying to sink some cash into it for equity and speculate on the appreciation?