You need to tell us if the property where 2 tenants will be is already bought for or will there be a mortgage on the house or bought outright. It is not clear from your post as you did mention a mortgage.
Please note that if you do decide to rent, mortgage interest in not a CRA allowable expense, so you need to take that into consideration.
I can tell you this.
I am in Thailand and I am renting my Toronto condo.
As of now there is still 50% mortgage on the condo, meaning almost half of it is paid off.
I am barely making a profit on it.... maybe $50 a month. In my condo utilities are included in rent, meaning they are part of the condo fees.