Thoughts on refinancing on rental property

[Jaret Walker]

I have some rental properties and I was wonder about the pros and cons of refinancing.

[Matt K.]

I just did this, pulled out some equity and used it as my down for another property. I did have to pay closing costs (refi and conventional) which depending on loan/home price could eat up some of the funds to make it not worth it.

However this won't work for you because: 
You don't have enough equity

If you do, if by short you mean less than a year you need to let it season.