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?

Used our personal realtor How did you finance this deal?

There sure are fast track approaches to this but really depends on strategy. 

MF has seen some significant changes and people recommended precovid may not be recommended now, so be careful.One person I always had a lot of respect for was @Todd Dexheimer who runs a great company and is very knowledgeable (full disclosure not an investor but have met him several times). 

They mentioned that the family member began debt consolidation 20 months ago, the way debt consolidation works the company lets it go into collections I am concerned that if the person files for bankruptcy.Even just one of 3 family member file a bankruptcy 7, can they stay 3 to 5 months without paying rent?

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Personally I am thinking 1c.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Over the years, I managed 3 offices and a 12-person team, and I got tired of bloated CRMs with monthly fees.