Should I Refie of Nah!

[Reginald Vaughn]

Hello BP Family!

I just finished the rehab on my first property and I am wondering should I refinance or not. I originally paid $6,000 (3 Beds/1 Bath/SFH) and put roughly $15,000 into it. I am debating on refinancing it, and pulling out between 65% - 85% LTV. The home should reappraise to between $45 - $60K.

The questions I would like help with.

1. Should I refinance and pull out the cash and continue to reinvest in other properties?

or

2. Just rent the home at $900 per month. And look to use these funds to purchase my nest property.

**In both scenarios the home will be getting leasewd. As I plan to hold this property.