You should get a higher cap rate since it has high occupancy, but this seems like a core asset, which trade low.

I use KV Core (previously Kunversion) and its very solid. 

My question at that point is:Would it be more beneficial to purchase a property within the Toronto Downtown Core, even if I have to invest up to $100 extra every month?

If your analysis warrants a close enough look to compel an offer, it's at that point that you request estoppel certs to verify rents.

And some compelling reason that caused you to sell instead of hold.

This article identify three states I like, and there are others that can make compelling cases also.

Rural towns do not compare to strong suburban to urban core properties.

One of their core concepts in "Progress, not Perfection". 

Commuting distance from your core area give you time to work and manage properties better.

Inability to get cheap bank financing fpr a couple of years could cost you tens of thousands of dollars in foregone opportunity cost.Sell it, or if you feel compelled to hold, find a solid lease-option buyer (with at least 5% down preferably) who covers minor maintenance sounds like a better way to go.