I would have hoped to have it in the 7s with the 75% leverage, but seems like a good deal, assuming they can make it happen.

So I've found the CSR's will constantly say stuff that wouldn't require a reply to try and get the chat to time out so they don't have to tell me they either can't figure out the issue or can't do anything about it, hoping if I time out of the chat (there's no way to pick it up, no way to have them email you a transcript, etc) that I'll just give up. 

I’m looking forward to learning from the experts here and I’m hoping I can buy my first property very soon.  

I hope my answer at least explains why more detail is needed to help you. 

I respect his viewpoint and am considering it, but was hoping for more input from the community as a whole. 

You don’t need to do a 1031 because you’re going to lose money on the sale. 

I'm hoping that is not the case...

MY PLAN: My plan was always to refinance the mortgage when rates dropped in the future, so my hope is that my mortgage would eventually come down to around $1,500-1,550 which then makes my numbers closer, as rental prices increase over time.

I was hopeful, but you all seem to echo what I was thinking. 

They end up losing their money but are replaced by a new crop the following year.