One thing to think about is if you rent it long term and then sell it, you have to pay capital gains taxes. 

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

Closing costs - you will have to pay taxes/stamps etc. typically as a seller.4.

In fact, come to the USA and live off of those of us who pay taxes.  

When that portion was complete, I could then receive draw money which allowed me to pay my utilities, taxes, and mortgages.

My mortgage increased earlier this year as my home owners insurance went up due to the company closing and my escrow didn’t have enough to make up the difference so I’m kind of pay check to pay check right now.

You should be able to pay off the loan anytime during that period, without any sort of penalty.

You often get what you pay for. 

I see a lot of people buying class D rentals seeing it appears to cashflow then have one tenant stop paying and destroy the place to bankrupt themI do not want that to happen to you, so this is why I gave the options I did.

Pay the tenant to comply with the lease?