Depends on what the various interest rates are. Also how adverse to debt are you. At the end of the day I am willing to take on more risk for a good deal if I can lock in a great 3 yr interest rate (say 5%) and then turnaround and make 10% cash on cash because overall I have arbitrage there of +5% because I know interest rates are trending higher and I also have tax benefits, mortgage buydown by the tenants, as well as a good chance at property appreciation over long term. But if I’m only forecasting a 8% return and the interest rate of the new loan is 7% that might be too tight to risk.
It’s up to you if you get loan on LLC or in your name. In my experience it will be more difficult to get a loan thru the LLC, many banks want to see the LLC taxes and financials for 2+ years and sometimes the interest is higher. It’s really the same thing to me, all my loans are in my name and properties held under LLC and it works fine for me as I was able to get low rates for 30 year loans and I plans to pay many of them off early anyways.