Also Chris_1, I do not have the tester anymore as I had to return it. If I pull the vacuum line off the regulator should I try to start it?

 

^^^I think the pipe you are talking about is the air pipe from the smog pump/diverter valve to the catalytic converter - something you will probably want to fix but unlikely to be related to your current fuel pressure problem.

I'd follow Chris_1's advice and check the regulator first - pull the vacuum line off of it and see if you can smell fuel in the line - if you can its toast.

 

Well, vacuum line from the regulator smells like gas. I'll let you know how it goes when I replace it. Thanks so much for your knowledge guys!

 

Also, I'm assuming I should go Motocraft with this part. There are cheaper options but really cheap, that makes me nervous, haha. Let me know why you think, was going to try to pick up the part tomorrow.

 

Most guys don't have problems with aftermarket regulators. Ford is pretty gauranteed quality, but the really important ones for motorcraft only are the TPS, the VSS and the PCV valve.
You would probably be ok with a parts store regulator.
BLD nailed it on the pipe I think - sounds like the fresh air feed to the cats. You'll want to fix it, but I think the regulator's the prominent issue.
If you turn the key on with the hose off the current regulator it will probably leak gas on to the motor (instead of down the hose into the intake).

 

Thank you all, I'll post an update.

 

No luck fellas...should I drop the tanks? One thing I notice, first time this has happened through all of this is when I switch tanks my fuel gauge doesn't change, I have 3/4 tank in the front but the rear is below half. When I switched to the rear today it didn't go down past half. Would this tell us anything? My lady is about to kill me if I don't get running haha.

 

Also my batter is kind of low, I have it on the charger right now if that would've affected te fuel gauge at all.

 

Does the fuel pressure regulator vac line now smell free of gas?

Are you still getting the 20psi then drop to zero....on both tanks?

Not sure about the tank levels. If it is a cross filling problem you would see it going from one tank to the other, and that would definitely point to a pump problem.

 

It does still smell like gas....couldn't that be residual though? I'll have to rent the tester again to tell you pressure. Wouldn't be till Saturday.