My goal is to acquire another property this year, but I am struggling to build capital fast enough to amount to a down payment.

Most 2nd position lenders will want the investor to have skin in the game (invest their own money) AND be paid a double-digit return.When you purchase property, you ALWAYS need to have reserves, but in this scenario, you really need to have reserves since you will need to make 2 large debt payments every month.

We've gotten a lot of calls back from prospective sellers just because they trust that they are working with the actual buyer and not a wholesaler or newbie that isn't likely to close the deal. 

I've never done a course, but I always had trust issues on these type of things.I am Canadian, I live in Toronto.

Is it worth waiting until September and hope the market is still as strong or take the hit on capital gain taxes and sell now.Secondly, if we do hold this property would it make more sense to prioritize debt paydown (instead of investing in another property, put our cash towards our mortgage payment and have it paid off within 10 years.

I was close, but not close enough to fund the down payment.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.

My go to referrals are New Directions and Equiy Trust.

If you borrow someone $10k for 5 years at 6 % the payments are $193.33 ($2,319.96/yr)But the interest paid, (The amount reported) would only be about $540 for the first year and less each year after that. . 

As a mental exercise, can you imagine the perspective of an investor that bought a property from you just 8 months prior to that email, had his FIRST TENANT miss payments, lie about making payments, make partial payments, then ultimately skip out on four months rent?