Even if a bank is paying me 5%, I know that's only for a short period time relative to my peak years left of living.  

You can add your bank info to hemlane and once you get invoiced hemlane pays from that account.

Currently I pay 1550 monthly for rent and I have the following mortgage options with this purchase:- 2996/Month 15% down- 3406/ Month 5% DownPlease ping me a message if you’re open to having a brief conversation. 

In addition, some reserves should be available to handle any large unexpected issues that crop up before money accumulates to pay for it.

When investing in an off-market deal, is it better to purchase properties vacant or is it still a good idea to purchase a property even with paying tenants inside of it? 

However, if you have to pay them back in a short period of time and make high interest-only payments monthly, that might work against you.Have you tried asking for owner financing terms for the $230k?

Now you need to figure out how to find deals and pay for them.

Couldn’t I sell for a loss, and pay the bank back whatever I owe them but borrow that amount?

P.S. if this was only a couple thousand dollar audit I would just pay CRA and then they'd refund me once they've finished re-assessment. 

Now you need to figure out how to find deals and pay for them.