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 lowered the amount you had/have to buy with your exchange.

She's not going to have any leg to stand on in court if you get that far unless there's some explicit language prohibiting the owner from assigning responsibilities to another legally authorized party, and I'm guessing there isn't if another PM company was maintaining the lease and provisions - and the fact that the tenant was voluntarily working with the other PM confirms the acceptance of an authorized agent even if it's not explicitly stated, the same way if you accept rent from a tenant after a lease expires you imply acceptance of the lease terms continuing (which is why you should always have a holdover provision). 

Purchase price: $270,000 Cash invested: $54,000 A multi-family upper/lower duplex in Ankeny found off-market during COVID.

I considered starting out house hacking a MF, but it will only increase my monthly expenses, not lower them or provide cash flow. 

If the accredited investor took your money and ran, you probably wouldn't have a leg to stand on in court because you weren't supposed to be In the deal in the first place.  

Everyone knows that cash offers mean, a lower offer, right?

You may need to replace insulation, sheetrock, or even framing material.The only way I would touch it is to have a contractor give me an estimate for renovation, then lower the price far enough to handle that renovation.

Every time you lower your tax bracket you are lowering the value of the deductions.

That higher interest will be a lower cost than the closing costs for the refinance so a net gain (depending on your new loan size).