New Investor - Refinance Primary Residence??

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I am curious if it would be worth it to refinance my primary residence.  I have 50k in equity in my home - and considering a cash out refinance on another 30 year loan (keeping payments about the same - extending the loan back to 30 years - and pulling out 50k in cash). I currently have about 20k in the bank and was thinking it would be good to have plenty of padding for the 'what-if's'.  I currently put aside 2500 monthly in savings to go specifically towards real estate rental investments

My intent would be using this for a down payment on a couple 100k rental properties, but just wondering if anyone has done this before. Any advise or guidance would be welcome!  Thanks!!