I'd say get an electrician there asap and factor the cost of re-wiring into the re-negotiation.

The city has seen a rise in rental demand, especially for multi-family units, as more people are drawn to the area for its relatively lower cost of living compared to larger metropolitan areas on the West Coast.Investors looking to enter the Spokane market for small multi-family properties should keep an eye on key factors such as property location, rental trends, and local development projects.

I'm sure there might be more factors to it as well.

Rate will of course depend on numerous factors but it’s always worth taking a second look because you can probably find better than 8.25% for a conventional loan even on a duplex.

Is that a fact or are there caveats to that statement? 

If you want to get into the market for the appreciation play and are willing to negatively cash flow a bit you could consider a negative DSCR loan.I’m still very new so my decision would be based on factors that aren’t concrete yet (I.e. my goals) therefore long distance REI isn’t off the table.

Sure DSCR lenders use revenue as a factor of LTV but it will not increase the value of the underlying asset. 

For multis you can find plenty of land zoned for multi use but making sure you have the lot dimension to build multi units is the other factor not to mention being in an area that it's worth it to dump that much capital into it.

Other factors that help you make a decision?

"McAllen was recognized as the third safest city by SmartAssest.com, which analyzed a core set of common safety factors, including the following five metrics: violent crime, property crime, vehicular mortality rate, drug poisoning mortality rate and the percentage of the population engaging in excessive drinking."