You typically have to pay per 30 days but I've seen that it's worth it as an extra protection for us landlords. 

I can usually get through 50-60 in an hour although I will be outsourcing this task soon.

It's usually better to give them a notice so they can prepare and raise it up to or near market rent. 

The answer to that is: usually 3 days to 2 weeks (max).  

If you have a traditional Canadian bank mortgage, you can pay that mortgage off early, there is just usually a prepayment penalty of 3 months interest.

Your tenant has already signed the new lease, which confirms his agreement to the new rent amount, sending that notice via certified mail can act as an extra layer of documentation that can be helpful in maintaining clear records. 

Most of them are $10 or a bit more with extra digital items included, and it's very easy to add your info, brand the colors and then upload it to Dropbox.

In fact, one article I read claimed that 1/3 of luxury purchases this year closed for cash..It can be frustrating for a buyer to invest (usually months) scrolling real estate websites, (or weeks if you read our newsletter :) but in all seriousness I would say for every two offers made, one transaction ultimately closes. 

On a $50,000 investment is the extra $1000-$2500 worth that risk?

If you are single, look at renting out any extra bedrooms.