Any instrument needs a proper set up before it will play well and not hinder you. Most instruments you can purchase off of e-bay that don't have a brick and mortar store behind them are drop shipped from the manufacturer/importer with no set up. Factory set up means no set up. Count on spending an extra $40-100 on a good set up and new strings.
All that said, if I were in your shoes with your requirements, I would consider the Eastman 515 new or used from a dealer like Dennis Vance's Manodlin store or Gianna Violins (referenced above). Both, in addition to our board sponsors, have high reputations for customer service and quality instruments. Full disclosure, I bought my Eastman 814 (F with oval hole) from Gianna Violins. I don't have a stake in his business I'm just a satisfied customer. The Eastman has a narrower neck, is hand carved and has a hand applied finish.
Our Classifieds are a good source as well. If you're not a strict bluegrasser, consider the Breedlove Quartz KF used. A slightly wider fingerboard and a chunkier neck than the Eastman. I have not played the Kentucky F styles or a Washburn. I started with a Kentucky KM140S (solid topped A with F holes).
since you are close to Toronto, visit 12th Fret and try all the mandolins (above and below your budget) and get the best playing sounding one you can afford. Take a friend and have them play them to you too. An f hole mandolin sounds different to the player and the audience.
There are two things to aim at in life: first, to get what you want; and, after that, to enjoy it. Only the wisest of mankind achieve the second. Logan Pearsall Smith, 1865 - 1946
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