BRRRR An Existing Property I Already Own??

[Matt Magill]

I purchased a rental property in 2019 with 20% down conventional loan. I have renovated it slightly and have had a good renter in the property for over a year. I recently have been learning the BRRRR strategy and had a thought of doing it with the house I already own. Thoughts on paying off the rest of the loan and then refinancing the property for the value of the house now. I bought the house at 277k and its now worth around 345k after appreciation. Would this be considered delayed BRRRR?