Cash Out Refi or Sell

[Joe Delgrosso]

Looking for some BP wisdom and support! 

I'm a buy and hold investor in TN. I have a property I bought in 2018 for $175,000 and I have a loan on it for $133,000. 

Realtors are telling me I can easily get $220,000 for it if I sell, however, I just re-signed my tenant until next May and for multiple reasons I don't want to sell until she's out. 

So I looked into doing a cash out refi. The appraisal just came back at $205k (I guess cash out refi appraisals are lower than estimated sales prices?) and I'll get $14,000 in cash at closing with a new loan of $153,000. 

I'm tempted to take the cash and keep the investing going and just continue to hold this property. 

Thoughts?