If you use addresses in usual notation, then the smallest usable network on mikrotik is /30: one network address, one broadcast address and two host addresses.
To mimick a point-to-point connection over ethernet, you should set it like this:
note use of /32 mask for local address. The peer’s address is used as network address. And here’s a candy: local and remote addresses can be completely unrelated, such as
where both networks use /24 netmasks … Another candy: the local address doesn’t have to be unique on the device, unique on device has to be combination of IP address / network address. The last example is real one (apart from interface name) on one of my routers and its local address is set as 192.168.42.1/23 on another interface (bridge) …