This would allow you to access some cash for other purposes ( Tax Free) because a refinance is not a taxable event.

Quote from @Patricia Steiner: Price cheaper with cash sale? 

I know cheaper is not always better. 

But at current prices and interest rates, this will be very challenging unless you go to cheaper areas or nearby suburbs that are cheaper. 

Between renting and buying a turnkey-ready home, renting is cheaper.

It will be cheaper than our mortgage and our incomes will be increasing.

I haven't worked with anything but hardwood and tile in recent years but would prefer a cheaper, waterproof option if it looks decent. 

This is the heart of the reason housing isn't mroe affordable, that landlords bear these types of costs every day.You could probably find cheaper labor, especially to haul away the junk, but not easily as an out of state investor. 

There's no way it takes that long to shovel the sidewalk on a building of that size.Shop around and I'm sure you'll find someone that does it for much cheaper.

(i) has not attained the age of 19 as of the close of the calendar year in which the taxable year of the taxpayer begins, or(ii) is a student who has not attained the age of 24 as of the close of such calendar year.Here, in black and white, the law specifies that the determination is made as of December 31st and applies to the entire year.