I would stay away from the lower mainland for the next few years unless you truly find a deal (or create your own deal by writing letters to home owners and see if anyone is willing to sell at a discount). 

In addition, look in Attleboro.Acquisition prices are lower, and so are the rents - but I frequently see MFRs that meet the 1% and even 2% rule.Check the crime heat maps on Trulia to get a feel for the neighborhoods.BTW, New Bedford has done a really nice job cleaning up the waterfront. 

You can only do one owner occupied loan within that time frame.

You will want to decide what is most important: lower fees, quick processing time, proximity to you.

I believe it takes 5 business days, or you can pay a $2.99 fee to lower it to 3 business days. 

Since I prefer A to B-/C+ class neighborhoods and properties, I am willing to accept a lower return up front if I think there's room for rent growth in the future. 

Make a little now with a "line of credit" for next one at lower than bank rate.

I’ve been buying properties in OH at a lower price point cash.

The loan servicers we work with all allow for "recasting," which means you can have your payment lowered without needing to refinance if you pay down the balance significantly... see if your personal home's loan servicer offers that, if needed.

If you believe that holding cost will supersede cost increase then hold and if marginal or lower then sell.