Seeing as she keeps pretty much going for things you consider valuable.... can you pack up and store your prized possessions somewhere, or at someone else's home? At least it'd help with that.

Have you asked her, while she's calm, why she likes drawing on the wall? If she gives some form of reasonable answer, you can ask her if she'd stick to one part of the wall if you were to put chalk-board or white-board on it? (You can purchase stuff that sticks to the walls that you can draw on). The chalk board would be the best, because chalk is pretty easy to remove from everything else.

Did you try the Time-In like someone suggested? I'd give that a go for the next while instead of Time-Out. Just hold on to her (it sounds like you have to keep going back to her anyway, so you may as well just park it down with her to start with!) Hug her, rock her, pat her hair, whatever it takes. Once she's calmed down (and stops hitting/biting you....) then have a few minutes of calm before she is done with the Time-In.

Please, please, please stop spanking her. I know that you are going through SO much pain and stress and frustration right now... but you keep throwing away all the progress you make when you spank her! It just confirms to her that nothing else you do means anything, because when she's "bad enough" she'll get spanked. You're ruining all of your own efforts each time you cave and resort to it.

Don't forget to take some time for yourself to do something nice to relax once in a while, ok?