I have a dilemma on my hands.My father is in the middle of a divorce.

Our dilemma is, we found a great home but we could not afford to keep both according to our lender: my husband is W2 but I'm self-employed who maximized expenses for last 2 years but can provide bank statements of gross deposits this year.

My wife is still employed at her 9-5 job which gives us health insurance (for now).

I have a dilemma and maybe I don’t see something what you would see.

Here is the dilemma that I am facing and hoping to get some good insight from all of the real estate investor gurus out there:Option 1 - Refinancing to a 15 year mortgage with a lower interest rate.

You don't want to ignore this, as it can be a health issue, and depending on where you building is, there may be a public recording, which will reduce your changes of renting to higher quality tenants in the future.

I am currently in my last year of medical school with the Navy's Health Professions Scholarship Program (HPSP) where the Navy pays for my medical school in return for four years of service when I finish school.

They only answer I’ve been able to get from my insurance broker is that “it’s considered a ‘health hazard’ if they A/C were to break down.” 

My dilemma is that I read a lot about people saying to understand your local market.

My dilemma right now is that I need to know how much it's going to cost before closing because if it's over a certain $ threshold then the deal doesn't work anymore.To your points above, most contractors I've talked to want plans so they can bid on it.