@Bryant Brislin I think what you describe that you are doing is HOPEFULLY somewhere along the lines of that distressed home consultant is doing. 

Im hoping someone can help me with more information on this specifc topic, Thank you so much!

That way you can tap your equity without losing your current mortgage rates.

Hope that helps!

My goal is to keep this property long term, refinance in maybe 3 years when interest rates have hopefully come down and my property has also increased in value.Thank you for your help!

Hope this helps. 

Hope all are well. 

That is like driving drunk in a car and then moving over to the passenger seat and leaving the drivers seat empty hoping nothing happens. 

Why hold in Baltimore when you can hopefully get it vacant, sell it, and use the money for another property closer to you or use that money to build an ADU.Have you checked the regulations on ADU and impervious cover for your house?

If you buy a property that is losing $100/month, that's $1,200/year or $12,000 over 10 years.