The biggest drawback is the potential life style change but if you and your wife are willing to make the sacrifices, there is some money to be made. 

Any additional recommendations is appreciated, thank you kindly.

Refinancing your loan to $192,000 probably wouldn't significantly help your cash flow situation, and the $13,000 would only get you into a cheaper rental somewhere out of state (in a possible war zone unless you have additional capital to also invest).  

Additionally make sure you account for commissions in 6 years.

I do remote REI, I do BRRR and all my houses are on mortgages which allowed my to pull out all my cash and additional created equity.

This is in addition to our around the clock tech support Most importantly,  we do not charge any monthly service fees or force you into long-term contracts.

I was tempted to invest in additional loans until I tried to find out what their rate of defaults was from the inception of their company.I sent dozens of emails and made a whole bunch of phone calls and got an answer on everything OTHER than what I asked.From doing research on the internet I THINK that the answer is not that goodThe loan that I made matured on 8/25/17 and they will not answer me as to when the funds will be paid back.

This is in addition to our around the clock tech support Most importantly, we do not charge any monthly service fees or force you into long-term contracts.

I have been googling all day and my 1031 agent is lost on this and is pressuring me to identify additional properties in the next week before my 45 day identification window closes.Any help regarding this would be greatly appreciated, thanks.

Why is the renter paying your down payment and agreeing to buy at a $30k premium in 3 years, plus shelling out an additional $500/month until then.