The question I would ask myself though is where do I want that 15% potentially available deployed.

,I (personally) would notPay off the condoKeep my equity in the condoI (personally) would sell the condo and deploy those funds into investments that meet my personal goals.You will likely need to 1031 those funds to avoid unnecessary taxes.

Another strategy could be to do a cash-out refi in 18 months instead of selling (I'm assuming you'd like to re-deploy your capital somewhere else).

As a former Marine I can tell you that you will deploy and unless your ready for that life your going to end up really unhappy.

I think you can be smart and look for off-market properties at a discount while deploying BARRRR to build instant equity.

My two cents: There's no reason to REFI if you don't have a place to deploy the cash, and since you said "I am sitting on about 800K cash in high yield savings waiting for opportunities to buy again (can't find good deals right now)" it sounds like you're not able to deploy that cash.

The disadvantage of it is that the rate is usually adjustable...so if you have a large HELOC deployed and interest rates go up, it can really impact your numbers...especially if youre using it over a long period of time.  

Would love to follow this thread for ideas of markets to invest in. 6 figure capital ready to deploy.

We did a major deploy today and immediately following, I had to run to the emergency room.

Your pay is tax free too once you deploy to the sh*t.