I have seen thousands of home owners over the years get stuck with an I/O Heloc and cannot refinance it due to lack of pay down and not enough equity/appreciation.You still have a 30 year mortgage at low 6% versus a Heloc in todays market at over 8-10% over a shorter term 10, 15, or 20 but never 30 yeas so in most cases the mortgage payment is less. 

This refi will definitely increase my mortgage payments but it will also absorb a HELOC which will put a stop to I/O payments.

The apple doesn't fall far from the tree.You evicted these tenants, but you kept a relative and allowed the evicted tenants to return for visits.

However, it's also important to compare fees between lenders to make sure you're truly looking at them apples to apples.

But if you buy four $200K houses then it's apples to apples and you're not going to fall behind.For what it's worth, I'd be concerned that if you over extend yourself buying a primary home you'll create a larger scale issue than just being house poor.

FL, NY, MD, CA, VA, NJ, Horizon Bank, Kalamazoo MIHughes Federal Credit UnionHuntington MI 75% LTV 5 yr IO product available.

Tough to get a more apple to apple comparison.  

I’m claustrophobic about the IO and wondering if I need to make a switch.

But if you search "Finance Friday" on BiggerPockets Money podcast on apple or spotify or wherever you listen they have some real gems that might help you think about where to start! 

Get fee sheets or loan estimates from whichever 2-3 lenders you're considering and make an apples to apples comparison.