Refinance Advice on Portfolio of Rental Properties

[Nathan Frost]

Hi all, need some advice.  I am looking at doing a cash out refinance / portfolio loan for 25 years at 7.5% interest on 5 of rental properties.  Be nice to get 30 years if possible but no one local does that.  My payments total would go up $400-500.  However, it would clear all my debt and possibly allow me to purchase another rental property to add to the portfolio.  I would be eliminating bad debt and high interest credit cards that I had to use to do some repairs.  Yes, my interest rates would go from 5.25 to 7.5 or 8 but I would be eliminating debt payments and possibly adding a 12th rental property?  Is it wise to do this and be debt free even though my total payments on those 5 properties will go up $500?  I feel like the answer is yes, especially if I can buy another rental property to add to the portfolio.  Thoughts?  Smart to do?  Is it a no brainer?

[Nathan Frost]

Quote from @Chad Davis:

@Nathan Frost What was the outcome on this?

Refinanced