Need help with Financing

[Carlos A. Buentello]

I want to get into investing, but I also have a goal to purchase home. My situation is as follows... I have rental property valued at around $125,000 with $66,000 30-year FHA variable note on it. I want to refinance and cash out to use $20,000 on a down payment for a house and $10,000 for investing in real estate. I have credit score above 750 and not too much debt to scare creditors away. What is the best way to refi property to take advantage of low interest rates? I want to refi for 30-year to cash out and lower monthly payment with lower rate, but it might be treated as rental and not get low rates since it's on my tax return.