When to Cash-Out Refi????

[Tracy Washinsky]

Hi BP Family!

After few years of analysis paralysis, I've finally taken the leap and have purchased my first property. And I am already submitting offers for my 2nd. 

My question to you all is what my next steps should be with this first property. I've updated the bathroom and kitchen and the property will rent out for $1200. Do I get an appraisal now to cashout refi- or do I get a tenant in first? Any guidence would be appreciated. 

Thank you!