I know the prices are incredibly high in the GTA, so an alternative option might be to get a cottage or purchase somewhere in a tourist town which you can rent on Airbnb. 

I'm currently located in and will likely be reinvesting in a growing Florida tourist area.At a minimum I will need to purchase a small/moderate condo/house to replace the one being sold.   

This is a tourist driven area and we've been through recessions before.Tampa has a 7 day minimum, as does the county. 

I am a Realtor in Redding, CA and there are a lot of STR here, housing medical professionals, tourists, and students from a local ministry school.

It is also home to the entertainment district where the Rangers and Cowboys play making it a hot spot for tourist.

I’d paraphrase and say select markets that have long been tourist locations.  

It is within 30 minutes of the Sarasota airport, and a great beach town with tons of tourist visiting every year!

A property in an area with historically strong appreciation, a diverse and growing economy and a quality tenant pool are key things I look for when I look for SFHs or small multifamily properties that I plan to use as LTRs.When I analyze for STRs, I want a property in a historically tourist friendly area with consistent demand.

While you are there, be a tourist and see if the place appeals to you.

Am licensed at the State, pay a locality tax, a tourist tax, a $500 fee per house to the municipality, have to be "on call" and had to add a landline for emergency calls.