And, typical lenders take 4-6 weeks to make that decision.

That decision depends on who you are, what you are willing to tolerate and what your market is.I thought the comment concerning the different types of damage was great - accidental, negligent and purposely.

Would appreciate guidance from this group if I am doing anything incorrect here.Regards,Nick

It is really hard to find a good property with this loan, so I need to make this decision by tomorrow. 

So, the decision on which way to go might be made from the get go assuming you intent to invest locally. 

unless you pay $1300/mo in prop taxes on your $65k property that rents for $900/month then I must be reading this incorrectly.

I think the BP calculator does a pretty suffice job with what you need to see in order to make a decision about properties.  

Great if you already own property, not great if you're trying to acquire more, hence my decision to reinvest into the properties I already own as much as possible until the market cools a bit.

Don't make a permanent decision based on (what could be) a temporary problem. 

I am almost regretting the decision to refinance now because it seems that I am stuck here for another year!