Hi @Brad Dillman, nice to meet another Ottawa investor. I will try my best to answer some of your questions (take it with a grain of salt - I am no expert in these areas).
Appraisal - From what I understand, banks/lenders use 3rd party companies to do appraisals. It is based on market comparables and the condition/upgrades of your specific property in comparison. Keep in mind that to a bank (and the appraisers) they will appraise it at what they think they can sell it for if the property owner defaulted and was foreclosed on. So what "value" you put on your home may differ from what the appraisers say. Quite frustrating when you are trying to re-finance to pull equity out....
Credit Check for Tenants - Check out Tenant Verification Services https://www.tenantverification.com
Rent-to-Own - There are many ways to go about this. I suggest reading this book (which is Canadian specific!): https://www.amazon.ca/Investing-Rent-Own-Property-Investors/dp/047073759X
Estimate Rent - Looking at comparables is the best way. Kijiji, Realtor.ca, Padmapper, Rentometer are all great resources.
Best of luck. I recommend you check out OREIO here in town. It is a great REI group, very well run, and they meet once a month. Check out the website: http://www.oreio.org
Hope this helps. Keep active and keep digging through Bigger Pockets!
