Refinancing a Duplex

[Javier Aguiniga]

Good Afternoon Everybody, 

I normally don’t post on here, but use it as a good resource.I’ve been wanting to refinance my property lately do to the low interest rates and wanted to get some profesional opinions. Keep in mind I live in California.
I purchased a Duplex last year on August 2019. This duplex is a rare duplex do to it having two detached units on one lot. But, it's still considered a multi-family "duplex". Both units are 1000 sq/ft 2 bed/2 bath, one car garage, and have their own private backyards. I purchased the property in August 2019 for 347,000 on a 3.5% FHA loan with a 4% interest rate. Total Mortgage is currently $2,310 with insurance,taxes, and PMI insurance included. I am currently renting one unit for $1,400 and living in the other. So out of my pocket I currently pay $910/month.

Fast forward one year later and I have completely renovated both units. New paint, installed luxury vinyl plank flooring, remodeled all bathrooms entirely. Also, the unit in which I’m currently living in did not have a central AC which I currently got installed. 

I've been looking into refinancing options. I know I can do a fha streamline refinance for about an interest rate of 2.75% but would still be having to pay PMI. I also know that I can convert into a new conventional loan (which was the initial plan to get rid of PMI) with about a 3% interest rate but would have to go through an appraisal. Depending on what the appraisal came out to would depend on if I pay PMI insurance but would have to appreciate to about $430,000 in order for me to have 20% equity. According to the lender who I spoke to. Currently owe $335,000. My long term goal is to rent these properties for the long term. The goal would also be to have the lowest mortgage posible including taxes and insurance.
What are your suggestions? Thanks,