Cash out refi on 20 year fixed for investment property?

[Michelle Nardozzi]

Hey all!

New to the forum and soaking in all the great info on here! With 20 year fixed rates dropping to historic lows today, I wondered if it makes sense to pursue a 20 yr fixed rate cash-out refi instead of a 30 year fixed for an investment property? Also what are your thoughts on "paying points" when doing a cash out refi? Newbie here, so any info is much appreciated!