Moving out of my primary residence, renting it, and house hacking my next home.

[Cesar Mylo Hernandez]

I live in a spring, tx next to the The Woodlands, tx. Area has good schools and is growing pretty fast. I refinanced my house 2 years ago at a 2.99% for 15 years. We owe $181,000 and the home is worth $360,000. Monthly payment is about $2,000. We want to move into a house with an already built in ADU, probably above garage. I plan to do short term rental in this space to help pay for the secondary residence.

Plan 1 - Do a cash out refinance on the first home to have a down payment for the second home.  Is this dumb, considering the great rate i have now?  Rental prices for comparable single family units around my area are around $2200.  

Plan 2 - I really dont have another plan as im fairly new to this.  Any suggestions?