Which that benefit alone ends up paying for itself in the long run.

Im in a Vangaurd Money Market thats paying me $286 in interest risk free.

Money is to pay the bills.

Or, depending on the interest rate paying off the student loans.

Every multi out there right now for sale are occupied with low paying tenants.

Taxes wise I have opened up a high yield savings account and putting money into it in case I do end up owing taxes next year, but what do I need to be saving as far as forms, I don't have the tenants on a lease yet since this is my primary on the mortgage, but I am giving them receipts when they pay rent every month and keeping those saved.

Tenant signed a contract with the property manager stating she would pay 1300 now in my opinion that's illegal on both parties.

Landlord pays the bill.  

-If you do a long term rental, how do you pay back the hard money lender/private lender (if you use one)?

Know the costs for fixing up the property and explore ways to pay, like bank loans, FHA loans, and local aid.