Locate a suitable vacant parcel and buy it.2.

I understand the fundamentals, however I have no idea how to get started, in terms of network / connection to buyers.I am a highly motivated learner of real estate investing, in the pursuit of finding a suitable purchase for my first rental property to convert into 2-3 living spaces in Hamilton, ON.

Get maybe 2 or 3 and then reach out and see if your styles align.

So you have a greater pool for tenants than when you get south or east of Denver.Great point on being able to convert a ranch into an in-law suite style for ease of finding tenants as well as higher possible prices.

It's a 4-5 hour drive from where we live, and the low maintenance landscaping styles of those areas + the lack of extreme winter weather are an added bonus.   

If it is a reputable insurance company, it can be a good deal.They understand they need to find a suitable place and a short term lease, so are willing to pay a premium.If they want less than a 1yr lease, add a premium for say a 6 month lease which automatically extends into a month to month lease with an additional premium.Most times the negotiation is done by a 3rd party on behalf of the insurance company and lest assure you are not the only landloard they are speaking to.

At minimum, I'd suggest a 2 sink/vanity Jack and Jill style bathroom, even if there's only one toilet and shower. 

There are definitely certain clauses that are not in templates that are either (a) Unique to your property(b) Unique to your landlording style

If you are a BRRR style investor and actively using that strategy, would you reach out?

Elementary style thanks!