However, if you are concerned with the time it would take to fill a vacancy, you will want to move slower and raise rates more conservatively.

This is based on the cost of the project, not the value (when you are finished and convert the loan to permanent finance, it will be based on appraised value).For me, I buy the land with cash.  

And that is before running ads to fill vacancies, etc.My next concern would be with your classification of this 12-unit as an "A-Rated" property in an "A-Rated" neighborhood. 

hahI read this article today (January home sales give rise to correction concerns) discussing market correction in the near future for Toronto and Vancouver, given that now even the condo market is seeing double digit growth month after month, without a shortage of supply unlike in home prices.My question is: Is there a way to estimate or calculate the ripple effect of that correction to the surrounding markets?

Do they have the same infrastructure as far as REI is concerned, or you just have to adapt and apply the strategies?

I am concerned with the property.

You need permanent financing as inexpensively as possible.

I wouldn't want to get burned by a tenant that will not move because of a previous contract.This is a Florida property.Anything else I need to be concerned with?

They are typically looking for a place to live for a month or two as they get to know the area, before they move to something more permanent, after they know more about the area.   

These are the neighbourhoods I'd be most concerned about owning.