I want to gut it all and add about 90 additional square feet - 415 sq ft total - for an open space guest suite.

Seems that you would need an additional living space like a TV-free "living room" (something I had in the midwest growing up, but aint nobody got space or $$$ for that in California) or a finished basement (another non-existent luxury where I live) if you want an additional living space to spread people out. 

This does very well with no complaints and I stay pretty full.The other place has King Suites( one bunk bed room) and already sleeps 23 so I've left this configuration alone for now.

I can help you explore various loan products that suit your needs and maximize your returns.Please feel free to reach out to set up a time to discuss this further.

Traditionally has met at Best Western Suites, 2000 Beach St., Fort Worth, Texas 76103 on Thursday nights.DFW REI Club – dfwreiclub.com – Meets about 2x-4x month, normally on Saturday morning from about 9am-12noon at Manhattan Plaza 6850 Manhattan Blvd, Suite 205 Fort Worth, TX 76120.

HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

Admirable but mixing philanthropy and business is a recipe not suited for most on this forum running a small business is challenging enough.  

So I’ve read I have to start an LLC in Pa because it’s where I reside, but I could create an LLC in a state, let’s use Wyoming for instance, that would be the owning entity of the LLC that I would create/own in PA to protect my privacy and my personal assets in case of a law suit.

BUT, I just want to know if I downsize and buy a luxury condo, is that a good investment?

A knowledgeable realtor can help you find properties that are well-suited for house hacking.I hope this helps, and good luck with your first deal!