But considering my interest rate of 6.625%, I'm wondering if it makes sense to pay it towards the mortgage now.

Pricing generally is impacted by every 20 point increment of your middle mortgage FICO mortgage score so a 740-760 score will get a better rate than a 680-700 score.2.

Consider taking advantage of high interest rates by buying first trust deeds, currently paying 9.5% and outperforming most new rental purchases.

What strategies have any of you used when purchasing occupied units that are currently rented far below market rates?

Welcome to BP Sage, we noticed you aren’t a Pro member at this time and we would love to offer you a 20% off discount to start taking action in investing with confidence!

I would really like to continue to invest, although with the interest rates, the restrictions and prices in Canada it is a challenge. 

We are currently renting and our landlord has given us a great rent rate and we ideally want to focus on long-term rentals and utilizing BRRR for our portfolio.Our current market we live in is Las Vegas, NV which is a great city for growth, but it's been tough right now to find any cash flowing properties within our loan amount from our NV lender.

(You don’t say how much but 17 years times 3.6% of the building value times 43.5% is the depreciation recapture amount times probably a 25% tax rate.)

You will pay half of the extra 5% in  additional upfront fees not to mention the rate being higher as well.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.