Also, I expect to have some additional unpaid utility bills that I have to cover (the city of Toledo OH is extremely landlord unfriendly), like I had to do when the previous tenant moved out. 

Your kids won't be going to school just during school time...nope, you have sports, band, theater and on and on and on.

I need suggestions on what i should do in this time to utilize it 100%, how can i know more about Canada Real estate market, how to know how much would i need to invest in my first property etc, what i should read first and where i should startThank You in advance for help!!

It’s other factors that are going to affect your score, like age of credit history, credit utilization, etc.  

The existing rental agreement specifies that the tenant is responsible for all their own utility usage bills (I pay water for the building, as is typical).

I live in RTP as well and had that problem a while back.There are various strategies you can utilize, but which one is the best, will depend on your goals (short or long term).

I was told I could utilize this same strategy once I have lived in the property for a year, move out and purchase another property with owner occupied financing.

One thing that has given me trouble is dealing with utilities.

If so most of those lenders which will be the same lenders you would utilize for financing your personal home cannot lend to a LLC rather to an individual.  

Some states allow for anonymity within the Series LLC itself, while other states we utilize the Land Trust for the same function and anonymity.