At all times, the landlord shall exercise ordinary care in handling and securing the tenant's property and shall make the property reasonably available for purposes of retrieval.

Notice, demolition, conversion or repairs50. (1) A landlord may give notice of termination of a tenancy if the landlord requires possession of the rental unit in order to, (a) demolish it;(b) convert it to use for a purpose other than residential premises; or(c) do repairs or renovations to it that are so extensive that they require a building permit and vacant possession of the rental unit.2006, c. 17, s. 50 (1).Same(2) The date for termination specified in the notice shall be at least 120 days after the notice is given and shall be the day a period of the tenancy ends or, where the tenancy is for a fixed term, the end of the term. 2006, c. 17, s. 50 (2).Same(3) A notice under clause (1) (c) shall inform the tenant that if he or she wishes to exercise the right of first refusal under section 53 to occupy the premises after the repairs or renovations, he or she must give the landlord notice of that fact in accordance with subsection 53 (2) before vacating the rental unit. 2006, c. 17, s. 50 (3).According to the above, if you can make a case that the planned renovations are extensive enough (i.e. main water and sewer to the building, replacement of HVAC, rewiring, etc) some, or all, units cannot be occupied during the renovations, you should be able to request the building be delivered to you vacant and let the current owner go through the exercise of terminating the current leases.Note the two additions from 2006:1) You need to give 120 days notice ... another reason to make the current owner handle this.  

You'll need to do a lot more manual work than you would (or an agent would) by using the MLS, and you won't have quite as accurate data, but since you're just trying to get a rough idea of ratios, this would work.Btw, I'm glad you're doing this exercise...I find that this is the second best indicator of whether your farm area is ripe for flipping (the best being the number of other ACTIVE investors in the area).

@Eric Zunkley It is also stipulated in RSO that if you exercise your right to take over one of the units as an owner occupier by going through the city (filing the paperwork with city, pay the relocation per schedule, etc.), and then you occupy the unit, if you then rent it out again, the rent goes back to the original rent + 3% a year.

So if you are using it as a learning exercise, make the offer anyway, no matter how ridiculous it is.

Unfortunately, at this moment in time, while you are beginning to smell the wonderful aroma we refer to as the power of RE, you have not been around long enough to know where the aroma is coming from - or something like that lol.I am hoping that these houses are just an academic exercise  - you are not ready yet to take action. 

Sheez;  Wife & I just commemorated our 50th anniversary in Nov'16 so obviously we're not yuppies, but stable, mature adults.Those creating Prenups usually end up exercising them - - I wonder why?

That is an interesting exercise because that price level is relative to the institutional market.

The buyer/tenant gave a $4500 deposit and had 12 months to exercise his option.

This littel exercise is over and I will build 1 of the 3.