My 1 issue with your post Celia is the argument that since 1031's have survived numerous attacks before, that they will survive this one.

It was made of foam rubber sliced into many disks.

But everything else, all cabinets etc can be saved by painting with home depot semi gloss scuff resistant paint with a 6" foam roller. 

I'm pretty sure I could have shaved a bit off my interest rates by shopping but there has been great value to us in working with one bank for the last 4.5 years as we have scaled.

Even including a 5% vacancy (very conservative as turnover is pretty good) and all other costs, I can shave down cash flow by $150 and still see good enough returns.

If a buyers inspector shows something on the report, chances are likely they will try to shave a fair chunk off the offer price.

Now if the market were to "crash", if prices slipped even a little, if there were magically more inventory somehow, there's literally trillions of dollars foaming at the mouth to buy it up.

Does your P/S have a strong walkout clause that you are prepared to execute?

Were any repairs made to the damaged areas....because one way of treating termites in walls is to spray a termiticide foam at the top of the wall and let it drizzle down killing what is in the wall.

Should I refinance to a new 20 year and increase my P+I by $26 per month, and shave 8.5 years off my loan?