Obviously there are more items to consider when refinancing like interest rate, term of the new loan, long term strategy of existing property and new property, cost of refinance, etc... but the above is how I would think about refinancing at a high level.

Need to be more creative for that : )    They offer it in a level that cost 1,200/month. 

The benefits come in two different ways:- You will get to deduct the interest at the new activity level.

It doesn't pay tons, but is honest work and the pay is a little better than most other entry level manual labor, and I can work as much and whenever/wherever I want.Also, I don't work with just one app, but quite a few of them(Instacart, Doordash, Grubhub, Uber, Amazon Flex...) and my income is fairly inconsistent in each one of them, but at the end of the day, I usually get pretty much the same pay every month(4.5-5.5k).I decided that in the near future I would like to get a small multifamily and househack to get started in the RE investing world. 

However it could be worth 170k-180 if everything was fixed and I think I could get it going as a functional rental property for the purchase price plus another 20k and some blood sweat and tears and maybe could get it reappraised in a year and do a heloc, but I could end up being 160k in when you factor in lost rent and is 10-20k inequity worth the gamble? 

@Mike DymskiWhat Mike said.Go buy an entry level property.

The additional 2 units will be basement level units.

Both of these are Masters level clinical positions and can NEVER prescribe.

He is also shopping for sub contractors for too long and leaves total only one or two of his low level workers un-supervised with no foreman 80% of the time.

Zillow's Zestimate applies market level pricing to a single home.