@Andrew Postell has an excellent point as to the time and expense of a refi.When people feel rushed and get impatient, their 3 silent cousins- broke, desperate and stupid- move into the back bedrooms of the house they are selling.Say you go through the pain and the credit inquiries and the $5k expense of refinancing, only to sell 2 weeks later. 

The article I was reading said brick needs to breathe and most pains will not allow that.

Due to the opportunity value of cash, which is highly prised by investors, you are losing/missing out on a great deal of income.With a combined total of 350K in equity you are losing $2900/month in income based on a opportunity value on cash of 10%.Your choice but painful for a investor to see piles of dead equity not being forced to earn it's keep. 

It is a real pain (plus rates have shot up … oh well, my bad luck).

Of course not.Owners of PM Companies that own rental real estate have tremendous insight into the pain points, needs, and wants of fellow investors.

Im a real pain in the butt and i just dont want to deal with customers like me.Good luck

Fortunately, a house hack makes learning mistakes less painful than a pure investment property.

Do I get an older home in need of pain and other cosmetic detail?

@Joseph WellsOn a vacant building, I would try a builders draw from a bank or lender first - it can be a painful process, but would be your cheapest money.  

Let me be frank, Norman can be a big pain in the lower posterior as it applies to permitting!