Plus many hotels in the more nature-y places have non-refundable policies in place anyway and their rates are just as high.

My personal DTI is too high.

I would highly just consider getting your RE License and conduct transactions legally and through a broker, it will alleviate all of this mess. 

Additionally, my debt-to-income ratio is high.

I've seen some decent multifamily deals there, but not a lot in NOVA mainly due to the high price points.

Zip code 27801 has, according to this article Where N.C. mortgage holders are underwater on their home loans, a state-high 10.9% of home loans considered "seriously underwater", Q1 2024.

High construction costs and interest rates?  

This trend suggests a robust and appreciating market, making Katy, Texas an attractive city for short-term and long-term investment.High Demand for Rentals: Katy is experiencing inbound migration from major cities like Los Angeles, New York, and San Francisco, indicating a high demand for rental properties.

Hope I am wrong and the last owner got you some great quality tenants or that overall things have improved.   

Plus, when done correctly, you as the KP can capture the ALL the Fed investment Tax Credits (ITC) plus the  State, MARCS, and Cost Seg Depreciation to massively offset your High W2 / 1099 Income - I wrote a book specifically for people like you and your wife to address your concerns.