I have a 20TH Bitcoin contract and a 100MH Ethereum contract. I'm only on my 3rd week with Genesis-Mining, but I would say about 5 months on your return is accurate and it mainly depends on how well the coin you are mining is doing in the market. If Eth were to blow up to about $500/coin I would make my money back in less than 4 months.
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Thank you for the information @evanfravert If I end up going the contract route I will certainly use your code. I think I am more interested in setting up a small rig for now, it seems more profitable my 1200 CAD computer gives me about 900 M/H which is much more that Genesis offers and for a better price.
I now just need to figure out the energy part and perhaps implementing a small solar system to make it more profitable in the future.