Should I cash-out refinance? (Cleveland, OH)

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Hi, I am still new here and haven’t been able to find a similar scenario on the forums but I apologize if this is a common question.

I bought a two family home for $52k with 20% down 3 years ago and found out when applying for a mortgage recently that I can cash out refi and pull $12-15k out of my current house. Huntington will waive all refi costs outside of $500 in my neighborhood. I believe the loan officer estimated I can cash out $12-15k based on the estimated value of my house. I’ve put two new kitchens and baths in, new flooring and carpet, two water tanks, one new furnace and one newer secondhand furnace. I closed off an addition off the back of the house and my plans are to eventually turn it into a separate efficiency unit or studio.

It seems to me like it would make sense to do the cash out. What are some things I should consider when making my decision? I have some cash savings ($15k) and could add to that with the refi. I will either be buying a single family home for myself or another multi family that I may move into if the deal is right. 

My options for financing the next property are FHA, conventional, or using a hard money lender then refi. My long term goal is to have many cash flowing multi family properties. And I would much rather live away from my tenants but I'm willing to keep sacrificing that for now for the right deal or situation. Thank you for reading! Any suggestions are much appreciated