Cash out Refi Pros & Cons

[Zimean Vickers]

Hi everyone I need help. What are the pros and cons to Cash out refi? How do you make your money or credit make you money? What should I be aware of? What would you do? The goal is to create income.

I have 2 rentals $1600 per month $394k value needs $5k repair, $1100 per month $252k value needs 10k repair, $215k loan on primary value is $387k.

Credit Union approved (just with w2 & rental income) $90k with $85k after fees 20yr fixed $600 per month to include insurance and taxes on the home valued at $252k rental BUT I have not signed yet bc I am unsure if it's the right thing to do. I want to buy more rentals, do repairs, and help my husband start his trucking business. I was going to do the line of credit but didn't bc I only get $55k and it will hurt my utilization bc I would most likely use it all. I need the money to create me income. I want to be cash ready for a deal. I don't want the $600 extra bill. I have no idea what to do that's why I haven't signed. I don't want to loose the opportunity of getting the money but I want the money to make me money. This opportunity may not be available in the future bc the credit union doesn't use credit score to qualify you just payment history and DTI

Thanks for all your help.