Decision on between Jobs and reneging

Hi PIP guy again...

So I got the offer from "BB", but it is only 20% more than I make now. I honestly, and I expect everyone to take this with a grain of salt, am performing my current job at the very minimum average, but I believe I have turned it around and am now a strong performer.

I expect my current employer will give me a conclusion to my PIP in the next week or two, where I either stay on or are fired.  I have decided to go through the "bank" onboarding process, and say I need my start date to be February as I have not been paid my bonus yet.  In the interim, I have 2-3 other interviews.

What would the ramifications be of reneging if I get another offer.  For everyone new to my situation, it is a position with the resi portfolio(not sure if it is business side, MIS, or OPS) management team, and currently I am in commercial real estate (which I would call very good experience and am reticent to leave the industry). 

Would anyone have any advice.

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