If you happen to see some appreciation consider it a bonus on top of the great ROI.We have many great areas to focus on but one must be careful because our market can vary greatly block by block sometimes within the same neighborhood.I'd be glad to show you around when you arrive.

@Colin Clark Hello I was an active realtor back in 2004 until the crash in 2008.

Some would hold the money and wait for the Real Estate crash which will happen sooner or later and have cash to buy up a lot of property at discount prices.  

While i have never personally managed a property i did work at a company handling property management like tasks for a 186 unit development project while he was building it and got a great crash course while i was there.The main reason that I would like to do commercial is because having a rather large goal of 1000 rental units by the time that I am 40 years old which would be in 12 years from now. 

If you're a total newbie RE investor, I'd say it's a good way to get a crash course on the subject.

Bob,I see how you arrived at the 11.9  I check out the comps in the area to see what similar properties are going for... would that be the correct thing to do?

I keep hearing about a crash- should I wait for the crash in hopes that I can catch a good deal? 

With the dollar so low, the Toronto market looks much more appealing for foreign investors right now.Basically, it doesn't look to me like the market is going to crash anytime soon.If there is a crash on the market, it will not be easy to predict.

In my building we've had bad debt dating back to 2010 when the market crashed and we had to write it off and track it off the books.

Sell, then buy the worst house for the lowest price (the one with the most unrealized potential, for value adding later) in your chosen area closer to work/school with your $200k deposit, and then later, go the HELOC route to BRRRR the best compromise-properties your research arrives at between distance, neighborhood appreciation play, and rent returns.