@Thomas KareeparampilI have been searching for years for that product in CT, I know you can get a portfolio lender to refi, but they will have a 25 year term, 5 year adjustable interest rate. 

Now, two of the common areas of concern for LOCs I see out there is the 10 year maturity date and the adjustable rate.

Asset usually in an LLC or other entity. 5, 7 or 10 year adjustable rate mortgages, amortized faster - usually 25 years (payy down to zero).

as it relates to SFR owner occ homes I dont see a big default thing coming soon.. so many people locked in 3 and 4 % money for 30 years.. and even adjustables are going to be around 5 when they reset. 

There are exceptions when the IRA uses mortgage financing or for certain types of real estate transactions that are businesses as opposed to passive earnings (i.e. flipping houses).IRS rules that accompany the tax-sheltered status of the IRA prohibit you and close family from personally benefiting from the IRA - other than by growing your retirement savings. 

All those challenges can become overwhelming if you don't want the benefits enough.

Would the cash flow of the 2-3 properties outweigh the benefit of the condo.

Depending on your house value, you can keep it and benefit from the future appreciation (remember, this is not guaranteed) and use the equity you have in the property to buy cash flowing investment properties. 

You dont have to reinvest your basis for the benefits vs the 1031 where you have to reinvest entire gain plus basis.

So why not plan a college fund with tax free benefits with no interest.