In this paper, we investigate theoretically the interplay between polarization switching (PS) and nonlinear dynamics in a vertical-cavity surface emitting laser (VCSEL) subject to orthogonal optical injection from a master laser (ML). The free-running VCSEL is biased such that only the horizontal (x) linearly polarized fundamental (LP) mode is excited. The injected VCSEL is then modeled using an extension of the spin flip model (SFM). We perform a bifurcation analysis using continuation techniques that allow tracking bifurcation of both stable and unstable solutions.