Buy now, instant appreciation with value continuing to rise, cover my expenses, and refinance down the line when the rates do drop, having already secured myself a valuable property!

Using 50% rule, rent is $5790, expenses other than p&i is $2895.

I established a  mgt entity for leases, deposits, income, expenses, but never held any of my dozens of residential rentals in LLCs over my 21 year run.It's just tougher to get good mortgages and insurance. 

Just don't try to make it a good deal by assuming appreciation or lower rates will happen. 

Keep track of the expenses.

Whatever you can do to increase your savings or increase your income: cut out unnecessary expenses, work a side job, put money into a HYSA as opposed to a regular savings account earning 0.1% interest.

Most people think Commercial is too hard and too expensive. 

No expensive hobbies other than the kids (I play disc golf and I like to do wood working).

Lower returns than market?

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.