Considering cash out Refi

[Kelly McKay]

I am considering a cash out refinance on my home. In the past year it has appreciated over 100k in equity. I am looking to buy an investment property. I did pull money out over a year ago (which reduced our rate to 2.75%) and put some into a Real estate syndication. Is a cash out refinance the way to go for another real estate investment, or should I be looking at any other options? Also is there a Debt to income ratio I should be aware of and try to stick too? Any other things we should be looking out for?

The cash out refinance would cost about $3300 and that would then be rolled into the loan, at a 2.99% interest rate (we currently have a 2.75% rate). Since we used the same company again, they waived most other fees. Any advice/insight would be great. 

Thanks,

Kelly