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?

You need a lot more pictures that showcase the great things about your house.

I've been house hacking for two years and for the first time I'm gonna be renting out the whole house and moving.

My ideal time to have an appraisal complete is post renovation of the house, but BEFORE the tenant moves in.

- How much would you say the house is realistically worth?

That means it was never adequate for this house, as the heat strips are only there if and when the heat pump cant work if its too cold outside, but not to run all the time.

If not, they may consider building the ADU and down-sizing into it and renting out the main house.

How much can you rent your current house for? 

Whole house burned to the ground, likely due to guests smoking on the deck.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.