Current Cash out refi costs and rates … HELP

[James Brisson]

Hey all, so I'm currently in the process of doing a cash out refi on one of the triplex's I own in Fitchburg, Ma. I have a rate of 3.75% Current PITI is 2180 and other expenses monthly are roughly $200. Gross rents are 4550 so cash flow is roughly $2100. ( yes I know I need to factor in cap ex. Maintenance and vacancy to get a more accurate number). I would be able to pull about roughly 100-140k (appraisal depending) with a new piti of $3960. The rate would be in the mid to high 8's. My goal is to scale the portfolio and hopefully be able to replace the lost cash flow by adding additional units with the cash out proceeds. The closing costs would be 19k with 5k in prepaids, with 14k in closing costs including broker fees. Is this competitive or does this seem expensive to you? Also the cashout refi is a no income low doc loan that looks to the DSCR ratio of the building for qualification along with my credit score. Details for closing costs are outlined above. I'd appreciate ANY feedback positive or negative !!!! Thanks guys and gals !!!!!