If I refinance the house and pay off the condo, it would workout to be a 13% ROI. 

If so, how did it work out from a cash flow, appreciation and management perspective for you?

The Kentucky Supreme Court ordered that all evictions for non-payment of rent will automatically be continued for 14 days from the initial hearing date to give landlords and tenants the opportunity to work out payment arrangements or obtain rental assistance.

I'm looking to purchase cash and either BRRRR the property or fix and flip depending on how the numbers work out.

And if doesn't work out, it will be a great lesson for me.

Does this sound like it would work out / has anyone ever used these two loan options in this order I’m thinking of ?

I have plenty of funds in my SDIRA and I want to make good use of it -- and flipping would work out very well except for this issue.

I know that in your situation, you are trying to secure the property with the lower down payment, so in this situation, seller financing may work out better for you, at least while you are making the conversion.

If you really feel like you're spending an unreasonable amount of time helping them then you could work out a partnership on those deals.

I used hard money for the other 80% of the acquisition and then paid for the work out of pocket.