Honestly you’re not gonna cash flow pretty much anywhere in the region and to be honest you can “house hack” a rental basically you could rent a room in a house, the biggest reason to buy is over time, the appreciation plus locked in payment looks better over time, frankly that time horizon is about 5 years on average right now, if you expect to be in the region for the next 5+ years buy something I’d probably prioritize buying something your comfortable in for the medium term than “cash flow” which your not gonna find regardless with these rates. 

Luckily I found a good contractor and have HOA approval for the project (very lucky I know) I do have the reserves but eventually wanted to purchase a duplex to split and while the house hack will help with monthly costs with interest rates so high it still won’t cover all monthly costs so I think using the 45k for another down payment is the way to go.

The STR market in Leavenworth is basically frozen out atm.

For high bonus depreciation, consider exploring new construction projects, which can offer up to 100% first-year bonus depreciation.

So I told her I would be willing to do it gradually because its an expensive project.

Basically you can't (or rather the lenders won't) do a cash-out refinance before the seasoning period (6 months typically; I've heard some are pushing 12 months now).

The points an interest are something you'd be writing off on your end as cost of a project 

Basically, I forgot to include it.  

@Dan Bowe, I think all your answers are below, but I will note that to buy basically any type of deal today still feels pretty risky.  

But you'll have your basic documents in place for future loans.