Rates on 15 year fixed mortgages, which can be popular refinance options also eased to 6.13%. 

I see my options are limited, but had one last idea that maybe someone could assist with, maybe I'm crazy to even think this could work?

I am curious what options are out there.

With an increasing demand for affordable housing options and steady population growth in the area, small multi-family properties are becoming attractive investment opportunities for investors looking to diversify their portfolios.Spokane offers a unique blend of urban amenities and outdoor recreational opportunities, making it an appealing location for tenants and potential property buyers alike.

Some buyers do utilize second home financing options to secure their vacation property, which is nice because it allows the applicant to go up to 90% financing on a full documentation loan. 

You still might be able to get the building insured for under $300/month but options will be very limited and coverage reduced for any property with knob & tube wiring. 

If this is your tenant base then your rent roll may be high but your probability of actually collecting that rent roll number is low.

For paint touch-ups, the charge is less based on how long the paint should last.

I currently live with my wife and 3 children, so I'm not sure this would be a good option for me.

I'm also considering other options such as using a fix-and-flip loan to fund the purchase and rehab, then repaying it using the cash out refinance.