You can remotely manage with minimal time and your phone.

Find a great deal with minimal to no rehab needed and see how it goes. 

I don't know anything about the income tax regime in Canada, but in the US (I'm also far from a tax expert in the US), if you finance 70-80% of a purchase price, there is generally very minimal if any income tax, after operating expenses, interest expense, and depreciation.For example, if you buy a property for $1m with $250k down and earn a 10% CoC return, your income, before depreciation and taxes is only $25k.

That helps minimize the risk of losing a property should things not go as planned (although things always go as planned, right?

I don't know the size of the house or the extent of the renovations needed, but if you can minimize what needs to be done to make it habitable, and keep the loan amount to conforming limits for your area, you could use a Homestyle Renovation loan to purchase and rehab the property. 

Identify properties with minimal monthly dues but will attract good tenants.

@Samir Shahani it is a debt relationship with a promissory note and a deed of trust on the property in second position, not an equity relationship.With doing the model this way, it minimizes my expenses such as cap ex, maintenance and repairs, turn over and vacancy, while I am able to capitalize on above market rent, the option fee, and the sales price bring about 7-10% above current market value without needing to pay realtor fees or concessions at closing.

How you minimize disputes?

Once your first property is tight with good tenants, less deferred maintenance, and fewer possible capital improvements needed after addressing major needs, month to month activity is typically minimal.

I've been approached with an off market opportunity that is valued at $1.4 million. The back story is that a son of a deceased investor can't manage the properties, so he is looking to liquidate.My realtor approached...