I've seen recent 3/1 ARMS at 4.75% which shaves about $300 per month off your payment and would put you back into the positive cashflow.  

Is it possible to refi when your credit isn’t cream of the crop?

"There's more than 1 way to shave a donkey!"   

My reason for going 15 year was with our current rental market (Wasilla, AK) it appears I should be able to rent the house for the amount of the mortgage ($1,800) and by doing a 15, every month the principle will get shaved off about a $1,000 from the get go giving me access to more equity quicker and I just assumed get the house paid off sooner and hopefully have that whole $1,800 or whatever it might be as cash flow and also be sitting on a $250,000 (right now) home I can sell whenever I want or keep for cash flow.

Use the remaining 10% to treat you (and your loved one) to whatever it can afford, a dinner, an ice cream, a coffee.

It's like asking, "what is a good flavor of ice cream?"

Important decisions, like whether to buy or not, or whether to sell or refinance are based on the value of the property currently or after some future renovation(s). Having

.- Did the buyer(s) have any concerns about the home not being built by a licensed GC?

That said I would not plan to do any work yourself in the grand scheme but if you have the right contractor you may be able to work with him to help shave your budget. 3.

Honestly, we’re both getting creamed for June.