Best investment is a fee-only financial adviser to plan out your finances over the next 20 years.

I'm not sure why SLS is talking about rental property, when you seem to be geared towards a principal residence. 1st piece of advice is to NOT use the HBP, because that is a tax trap. You have to pay off that "loan" at prescribed rates or pay a tax penalty. A $100,000+ inheritance should be enough for a down payment in most markets - getting at least 20% of purchase price.

If you can afford the DP using only your inheritance, then consider using it all on the DP. There is no law that requires you put down a minimum DP, and you have other assets for emergencies. You can then move your money to Tangerine Equity Growth (you are young). While it may be a bit simplistic, a 1%+GST MER is fairly reasonable.  See http://www.theglobeandmail.com/globe-investor/investment-ideas/strategy-lab/index-investing/how-td-bank-just-missed-an-open-goal-with-its-etfs/article34458035/ about simple investing.