They can exclude the existing mortgage payment from liabilities when figuring DTI under certain situations.

A little about myself and situation. 

If there's anything I could do to be involved in your situation, please let me know.  

You don't need a license to invest, but you will need to pay a broker or work with a broker in many situations. 

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).  

You could tie it up with a standard contract amended to include "outs" for you on interest rate changes and property appraising at a certain level and changes in your personal financial situation.

They will likely have one on the shelf for a situation similar to yours.

Thanks, @Andrew Johnson and @Paul Bowers You both provided answers to a situation that is similar to mine. 

I know you guys are dissatisfied (as am I), but I don't think that it is productive to exaggerate the situation on this forum.  

However, there is an important exception.1031 Deadline Extension For Presidential Declared Disaster AreasIn certain situations, IRS Bulletin 2007-34 provides “affected taxpayers” in Presidentially declared disaster areas with up to a 120 day extension of the 1031 exchange 45- and 180-day deadlines.What is an “Affected Taxpayer”?