Always be willing to walk away, or, if you really want it you're going to likely pay above what makes the most financial sense to you based on pure math. 

That keeps the math simple.  

So if I did my math correctly, you have at least $1,600 in monthly debt. 

This doesn't make sense because there are so may costs to refinancing a property that, when you do the math, depending on how much your property is actually worth, the monthly improvement in cashflow does not substantiate the costs to refinance. 

Ideally we would buy a multi family property here in San Diego and have her live in one while renting the other, but the math just doesn't add up in SoCal now, maybe not ever, so for now we will probably keep her in FL.

You may find in this environment you will be asked for 30%, 20 year, higher rate, which makes this deal look worse.If you pay cash....quick napkin math assuming 50% of NOI for expenses that leaves you with ~$70k which is a 3% return. 

That your going to see what MATH has to say on it all. 

The extremely proper English is due to describing math equations and needing to be precise.

Here's some basic math. 

The math behind is like this 175k loan is roughly mortgage payment of 1408 per month ( This is with 9% interest rate, DSCR tend to be 1-2% higher ) + insurance and Taxes.