Need advice on equity positioning and strategy for next purchase

[Kate M.]

Hello All! Happy New Year to you all!!! I was hoping to get some feedback/advice/planning. Basically, I have a rental property that I am hoping isn't too late to refi (4.62%)... There is a good bit of equity in it. Would it be best to leave the equity in the rental at this point considering the market conditions or shoot for a cash-out refi? The idea was to try and get a new fixer-upper to repair and do BRRR by leveraging the equity in the rental property. Thoughts? Suggestions? Feedback? Any help is greatly appreciated.

Thanks!