Refinancing my home. Cash out?

[John Colagross]

Hello all. My name is John. I live in Muscle Shoals, AL. My wife and I are refinancing our home to take advantage of lower rate. We were on a 15 year fixed with the goal of paying it off by retirement (I'm 48). After reading Rich Dad Poor Dad, BRRRR, and listening to BP podcasts, I've had a paradigm shift in thinking and chose to do a 30 year on the refi with the goal of freeing up money with the goal of building capital. My goal is to purchase 3-4 unit rentals or SFR to start with. The rate for our refi is 2.85%. We are debt free except for mortgage. We owe 131k and house appraised last week for 194k. We haven't signed papers yet. My question is, should I just borrow the amount I owe and start saving OR, is it wiser to borrow as much as possible on our house? I hate to add back what I've already paid down since this is our home but, I do want to get started with rentals as soon as possible. Any advice is appreciated. Thank you, John