These are professionals with additional training and a stricter code of ethics.

Quote from @Conte Cuttino: Makes sense @Andrew Freed so say if we I can make it additional legal space, do you think the 107K left in the property for the return is worth it or should I sale and move on? 

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.  

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year.

What do you mean you are paying $400 additional dollars more than what you are paying now?

Feedback has not suggested property needs additional repairs/work, only that they are looking in a different area.

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.