Cash Out on Rate and Term Refinance

[Noble Willis]

With rates at the current lows, I'm looking into conventional refinancing to capture some savings (on my monthly bill but also long term interest).  I had a few questions that I'm hoping someone can answer.
1) Can you roll the closing costs into the financing of the loan and still have it be considered rate and term (no-cash out)?  (My understanding is yes)
2) Is it possible to get some cash out of the deal?
2a) What is the most that you can get? (500? 1000?)
2b) Any strategies to maximize the potential cash out?  (e.g. request extra to be put into prepaids/escrow ultimately becoming some sort of "refund" when the escrow is balanced.)

Thanks