@Ricardo EsquedaIf you take a loan out of your 457 for an investment property you will have to repay it within 5 years.With the CARES act you can take a loan up to $100k but also you can take a distribution up to $100k that will be tax free if reimbursed within 3 years in any QRP.

I'm currently reading it myself and it's a unique approach to getting started in the RE world.

why didn't the existing borrower recover the equity if it was "in-place" and simply repay the loan and cash out?

Yes there are but Marine Credit Union is known to work with unique and difficult situations.

I think Boise provides a unique opportunity to invest in multifamily or repurpose existing single family being that in my opinion it is primarily a relocation market with prices being driven up from wealthy people from other areas and not an increase high paying jobs.

Options:A - End FHA forbearance with a repayment plan which still allows me to refinance but also need to close HELOC so LTV looks good to remove PMI.

What kind of unique character does the home have compared to others in the area?

. + plus all the bonds that get voted on3) Maint and supplies have taken a big jump.Maybe you're a ma-and-pa with no debt so doesn't matter to you, however, lot of people need to borrow money and repay debt. 

Each market is unique and while some markets are now attracting competition to bid up prices others are next to dead which would mean a long hold time to make a profit.

My idea was to somehow raise the money for a complete purchase or a downpayment then when I had equity built up, enough money saved from cash flow, or I sell the property I could repay my investors and move onto another property.