My thoughts.
1)Too much trackage for the available space.
2)Not enough opportunity for modelling - i.e., no scenic elements and no structures apart from an engine house and not much free space to put them. Operationally the layout is going to be limited - how can it not be in 12' x 12" - but you can get a lot of modelling into that area which will help develop the skills you'll need when a larger space becomes available.
3)No off-stage trackage to represent the rest of the world. Even a small layout like this should have some kind of staging/fiddle-yard where trains can go to and come from, otherwise you're just switching cars all the time. Depending on prototype and train length, staging can be as little at 30" using a cassette/sector plate design.
4) Looks too much like a plank of wood - consider having one end of it a little wider than the other, say 10" at one end and 14" at the other. More width means you can have tracks at an angle to each other rather than everything parallel. Makes it visually more interesting and more like the real thing.
The June issue of Model Railroad Hobbyist has some good plans for small RRs. http://model-railroad-hobbyist.com/magazine/mrh-2012-06-jun/small-track-plans. It's free to download as a PDF
Good luck
1)Too much trackage for the available space.
2)Not enough opportunity for modelling - i.e., no scenic elements and no structures apart from an engine house and not much free space to put them. Operationally the layout is going to be limited - how can it not be in 12' x 12" - but you can get a lot of modelling into that area which will help develop the skills you'll need when a larger space becomes available.
3)No off-stage trackage to represent the rest of the world. Even a small layout like this should have some kind of staging/fiddle-yard where trains can go to and come from, otherwise you're just switching cars all the time. Depending on prototype and train length, staging can be as little at 30" using a cassette/sector plate design.
4) Looks too much like a plank of wood - consider having one end of it a little wider than the other, say 10" at one end and 14" at the other. More width means you can have tracks at an angle to each other rather than everything parallel. Makes it visually more interesting and more like the real thing.
The June issue of Model Railroad Hobbyist has some good plans for small RRs. http://model-railroad-hobbyist.com/magazine/mrh-2012-06-jun/small-track-plans. It's free to download as a PDF
Good luck