To refi or not to refi

[Dakota Cochran]

So I’ve decided I’m gonna purchase another home and make my first home a rental. I have a family friend that’s a mortgage guy and I cant tell if he is in my best interest or just sees $$$.
I was thinking cash flow is king so maybe just a rate and term then he mention I should cash out because the house value is up. I wasn’t sure if he would make more if I cash out or not? Is he in my best interest?

Basic info:

I owe 150k , monthly 1300

Going rent is 1800-2000

Interest rate is fixed at 6.5%

Just now able to refi do to self employment status.

so do I have something worth doing? Is my mortgage guy helping or hurting? rate and term, cash out, or leave it be? 

new to bigger pockets, new to Real estate. Any and all advice is appreciated.

Thanks, dakota