Should I refinance for more deals? BRRRR Novice question

[Doug Spence]

Hi all! I'm considering refinancing my first investment property to buy more deals. Here are the details:

Purchase price of the home two years ago: 198k

Currently Owe: 151k

Zestimate (I realize this is not an appraisal): 272k

Currently renting for $1950/month, mortgage is $1045/month. 

My long term goals are to buy one property/year to grow my portfolio. I'll be closing on my second property (out of state thanks to @David Greene's book and @stuart grazier) within one month.

I don't have any experience with the BRRRR strategy, just heard about it a lot on the podcasts. What other questions should I be addressing? Any feedback is welcome! I couldn't find a BRRRR specific section of the forum to post this in, so mods feel free to relocate if necessary.