Perpetual cash out refi strategy?

[Account Closed]

Hello all - wondering how long I should hold my property for, as this will dictate what terms I choose for refi.  I have the option of slightly lower (2.875%) interest rate but higher upfront one-time fees versus higher interest (3%) with lower fees.  I did the math, and the break even is around 4.5 years.  What advice would y’all give in terms of how long to hold a property?  I currently live in it but was planning on making it a rental in the future if I move and it doesn’t make sense to sell. 

Have any of y’all done cash out refinances over and over on a property? Figured it’s going to be hard to get a meaningfully better rate next time I want to refi, but perhaps still worth it to take cash out to go invest either in more real estate or the stock market.

Thanks in advance!

Daniel