I would stay at your job.

Speaking as both an investor and realtor based in FtL, these small MF are very difficult to get into at the moment due to excessively high pricing leading to negative cashflow if you plan to finance them. 

Does it get paid at the closing of my relinquished property or at the closing of the replacement property?  

He said yo look at the tenant's tax returns to see about child support and alimony.

We actually looked at the house a year prior to buying.

I am a NY investor who invested some years back in Springfield MA during the real estate crash in 1992 where condos selling for $110K were sold at auction for $40K.

At least in the retail world that I shop in. 

Start looking at properties, multifamily or otherwise and run your numbers on them.

On the one hand, I know they are all anxious about what the new terms will be - perhaps I should tell them ASAP (I move in at the end of this month and have a lease/occupancy agreement with the owner until then).

You need to look at the 10 year not fed funds to understand mortgages.