I’m writing to get general thoughts on this situation.

A higher LTV generally requires a higher DSCR ratio such as 1.25 instead of 1.

So yes, get a good General Contractor and have him bid it specifically to what you want. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

Do you have a preferred type of property and price range you're looking for in general (knowing the costs can be different based on they market)?

You're feeding 2 dogs with one biscuit by taking care of your living expenses and generating rental income at the same time, and by living in the house and keeping it to 4, you generally get exemptions on things that might bother you to live with (IE you can choose whomever you want as your tenants without running afoul of fair housing laws).

All messaging said "soon", when generally there would be some sort of notice or indication things would change. 

General area and property class would be needed at a minimum for anyone to offer an intelligent response. 

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?

@Danth Aman I'm assuming you're doing a general home inspection?