This is what worked for my setup.
1. Open YouTube and navigate to "My Channel" then navigate to Video Manager.
2. On the Left manu click on Live Streaming to enable feature in YouTube. It will need to verify your account via VM or SMS. (I kept getting invalid phone number error here, I used this link instead
YouTube and it worked)
3. Open DJIGO app and go to General Settings at the bottom
4. Disable "Enable Hardware Decode"
5. Enable "YouTube Live Streaming"
6. Login using your YouTube credentials
7. Select "Basic Mode"
8. Enter Live streaming details (Title, Description and viewing restrictions) and click Start
9. Click on the "Start Encoder" button and wait for the "Start Streaming" button to become clickable.
10. Click on the "Start Streaming" and wait about 60 seconds (should not get any errors at this point)
11. Click on "Start Streaming" again then the stream should be Live.
On a side note, one thing that seemed to help the frame rate of the stream was to lower the resolution I was capturing at. By no means is it smooth at the lowest 720p setting, but it does seem a little less choppy.