Should I Refinance or get a Home Equity Line of Credit?

[Jesse Graves]

I recently bought a home in September using a USDA Rural Loan and Secured a 4.5% interest right before the hike. The homes purchase price was $157,500 and appraised for $165,000 so I purchased with some equity. I want to get to a point in 2 years where I can rent the property out and perhaps refinance and cash out to then purchase a Multi-family. However, with the market rates It doesn't look feasible in the coming years. I had a goal to own 3 rentals by 26 and I am 22. Would it still be smarter to wait for a refinance and cash out when rates drop or pull a home equity loan here in a year to put down on another property?