We then take the utility bills determine base rate split and usage rate. 

And most are variable rates.

Perhaps someone with more knowledge on the neighborhood rental rates can chime in.

I really do try my best to be an awesome landlord, but it’s starting to not feel worth the time and energy.The house is at a 2% fixed rate so it’s hard to consider selling (at least right now), and getting the tenants out of the house would cost at least $5k per the Portland laws.

Do you know anyone who is investing in the debt of distressed office buildings, and then buying them at a cheap price once they default? 

Is there partial fixes (ie. new roof, wind resistive windows and doors, etc.) that will accomplish what you want on reducing the rates.

Here are the #s:Asking $129,0002 bed 1 bath 718sqftEverything has been updated15% Down - 9.5% Interest rate - 30 yrs amortization, no ballon Rents around $1000 - 5% Vacancy - $700 Taxes yr - $741 Insurance yr - 10% Property Management - 1.5% of rent for Maintenance and 5% of rent for capital expenditures. 

My current APR is 7.15% I'm pushing towards the HELOC because lower cost on closing costs and refi interest rates are the same as my current loan right now. 

Yet all office seems under price pressure, especially with rising 10yr and cap rates.

Look on Airbnb and see what the competitors calendars, nightly rate, and amenities look like, and it should give you a pretty good idea what the numbers would look like for that home.