Now because of that fat cash-out refi, I have a larger note to pay and the property doesn't cashflow like I'd hoped.

I kind of put REI on the back burner until last year.

I had a valuation recently that put it about $20k over the 2007 price so I could pull out with minimal profit, but I'm inclined to just keep it on the back burner and continue with my full time job in the meantime, whilst looking at other properties in North America.Any advice you could give would be greatly appreciated.  

You can work out where they could drop a fat gift card on the floor somewhere later.

You're talking a jumbo loan, so your options are somewhat limited, but I'd let the mortgage broker/lender know he's about to lose that fat commission if they dont get their act together. 

You'll be in better shape (body-fat wise) at 39 than you ever were in your life.

As long as you're sabotaging yourself why not tell the wife that yes she does look fat!  

@Dev Horn I like your analogy, it is certainly easier to see it that way, I am building my buyers list and in the meantime I will make sure to work on my motivated sellers, making sure I catch the big fat fish ! 

Assuming you move forward because the underwriting checks out then you need to secure financing.Securing financing is easier said than done, and unless you have years of experience, successful projects and a fat net worth you most likely will not get financing from traditional banks or get rates that slaughter the economics of the project.

I was very naïve in the beginning but my mentor taught me to take control of situations, even if that means calling/texting someone that is involved in the deal once a day for 30 days straight (I have done this with a lender recently because the deal was being put on the back burner).