More importantly was realizing that if I'm uncomfortable with the accessibility, then potential renters will be too.

Costs are up, but so are asset values and potential rent increases.

It's high risk potentially not so high reward situation. 

The realtor now can only work with half of their potential customers.

However, this comes with the caveat that you and your husband are prepared to cover any potential increases in mortgage payments after the renewal, especially if the new rate is significantly higher than the current 3.5%, which I ignore since I am not versed in the mortgage system in Canada (although it does sound a bit like an adjustable rate mortgage from what you described).Before making a decision, I recommend speaking with a financial advisor or a mortgage broker to explore your refinancing options and get a sense of what rates you might be looking at come June.

It's an exciting but complex decision, and I'm reaching out to this community to gain insights, advice, and maybe learn from personal experiences.Pros and Cons:I've identified several potential pros and cons but would love to hear your perspectives.

You'll turn away many potential guests by doing so.

It has some potential, but what drove you to Phillipsburg? 

Investing in Oil and Gas is somewhat of a gamble.The way that I see oil and gas investments have one of two likely outcomesA) Lose all or close to all your moneyB) Get 10X your investmentTo answer your question you can potentially do a roth conversion and offset it with oil and gas investments.

You could get a heloc on your existing home to use as a tool to potentially use to buy the lot of provide down payment $.