Will interest rates go up or down when Freddie/Fanny are 100% privatized?   

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

I agree, it could be possible but I have yet to see a deal that really works when the borrower is borrowing 100% financing on a deal as the lender is going to have much higher rates and default rates.

But the real test of this company's character came with the most recent loan I tried to close with them.First, I thought the loan rate was locked, and it was not.

Was going for the best cost-of funds (lower rate)

The initial online material is $97 and the 3-day certification is $1,495 (after $1,000 discount), all which will be reimbursed with first few deals. 

Of course the rate is higher with 15% down, but it helps investors get that property secured with less out of pocket.Happy to help if there's anything you need.

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Be sure that you are honest from the jump, your estimated rate are only as good as the info you give them.

You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.