Should I refinance for future investment?

[Joseph Michael Sutton]

Hey everyone! So I have a decent amount of equity in my current rental and I want some input as to whether or not it would be an intelligent decision to cash out refi in order to put a down payment on a new investment property. 

I have refinanced the first house once to a 2.25% Apr and I am not sure if a second refi would be a smart decision considering it would increase my interest rate and Principal. But if I am able to still net some cash flow on the first rental, would it make sense? 

[Caleb Brown]

I would do a HELOC rather than refi. You'll tap into your equity and keep the rate. Your current rate is sooo low and would hate it raise it 5% to todays rates