We need the cash to mostly just tie us over untill we sell the property, so 150,000 is on the upper end; 80,000 and above would probably be sufficient. 

There are mortgage recast calculators online or you can reach out to your lender.P+I payment will go from 2155 to ~1800 given the numbers you provided.

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

These guys are having fun because there are a lot of scammers and gurus out there selling LLC creation services and Wyoming Trusts and Cook Islands Trusts and if you believe all that b.s. you will end up needing to cash out refinance soon in order to access that equity in order to pay for all their services plus an accountant to keep track of the mess.

You can live in one unit and rent out the other for little to no down payment.

I’m looking for small multi-family homes in the $150k-$250k range, focusing on property appreciation with minimal cash flow to build reserves.I’ve been considering areas like Fishtown, Somerton, Roxborough, Haverford, Conshohocken, West Norriton, Upper Darby, Lansdale, and Abington.

Mostly people with minimal RE experience are adding a single ADU and they often make that choice based on cash flow without taking into account the negative equity position.  

Hope is a bad strategy.The only on market strategy that I think can work is paying cash/line of credit/hard money for a property that does not qualify for conventional financing.

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

There is nothing more annoying that paying $1200 just to hear a sales pitch and be told that the only thing that will allow you to be successful is to sink a ton of cash into the advanced training.