@Juan Pablo Murillo echoing @Wayne Brooks sentiments.

Cap rate is a measurement of market sentiment.  

I agree with the sentiment, just enough to cover if total loss.

I agree with the broad sentiment here.

Then we will contact real estate agents in the areas/regions we are interested in to dive deeper and (hopefully) get insider knowledge of local regulations/sentiments regarding short-term vacation rental properties, as well as using tools such as AirDNA.My current plan (albeit, naive/ignorant?) 

I am a licensed Realtor and investor; I have to say, I don't agree (at least wholeheartedly) with the sentiments above.

I agree with your sentiment though, my first property(s) should probably be within close proximity and then move to other markets as I get comfortable. 

Glad I came across your post, because I echo your sentiments, so I'll follow your discussion in the hopes to network with like-minded Canadian friends too :) 

I agree with the general sentiment on this one.

Would love to hear your story and maybe a sentiment on the current atmosphere.