Eliminate debt, establish a budget, and save.

That's some serious monthly savings.  

That may allow you to save for another property faster.

save enough for a down payment and invest in loge term hold.  

If you have savings, you can still utilize the VA and put more down and that will increase your cash flow in the short and long-term.

Are you going after Rent to Retirement?  

If that 1% saves you $7500-ish (or whatever the final costs are for the refi), then it may be a good idea.

I'm an active-duty military (retiring soon).

The office space added represents a saving of $2500 a month I was going to pay in a lease for an offsite building for my expanding team and staff.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).