Last time I checked, a house like this was in the upper 400's without the remodel.

So you will just have to level with your tenant that circumstances force you to sell and you will try to sell to someone that will maintain the property as a rental but you can't guarantee that. 

Most of what I have seen on Zillow/Realtor/Redfin has been in the so-so parts of town with the occasional fixer upper closer to the more desirable areas. 

I will echo what others in this thread have said: Try to house hack a duplex farther away from where you currently live if your 45k will be enough for a down payment on a duplex or buy a fixer-upper FHA with your $45k, live in it a year, find a new one, rent out the old one.

Given that property prices have risen alongside this increased revenue, if revenue drops back to pre-covid levels it would be troublesome. 

They have high turnover and involve more work and wear and tear.IMO I think the best entry-level rental strategize in Ontario is buying a single-family home and adding a legal 2nd suite to the basement.

If you go FHA 3.5%, lock up the remainder in where it will work for you with a level of risk you can stomach and some cash for emergencies.  

What's your experience level? 

The dining room has the upper half papered and then the entire entry foyer / hallway has it floor-to-ceiling.The photo below shows the dining room and as you can see it is stick in the 1970s . . . anyone want some stunning curtains to go with the long forgotten leisure suit?

Mother in law unit, adu, detached garage/shed, split level, basements are all examples of ways to do this.