3 Properties - Refinance or Not? Look at these numbers

[Travis Rogers]

Hi Folks! 

My name is Travis, I own 3 SFH properties (2 rentals, and my primary). Two of them (one being my primary) are at about 50%-55% LTV, they are in Eugene Oregon. I'm considering a straight no-cash-out refi on my primary, cutting my monthly payment by about $300. Prior to that I was considering a cash-out on my primary (100k cash out) and paying off one of the rentals (the low cost one in Texas), but the numbers line up about the same and I'd rather pay off my primary in the end than my low value TX rental. Numbers are below, any thoughts, suggestions would be appreciated! Main goal is keeping payments low and being able to weather a storm. This helps with that, I just don't pull any cash out in this scenario.

Primary: Owe 218K / Value 440k 3.875% current rate (4 years in)

Rental 1: Owe 212k / Value 380k 4% current rate (1 year in) fantastic rental/renters/area!

Rental 2: Owe 101k / Value 140k 4% rate (4 months in) decent rental, but not spectacular

Obviously rental 2 won't do anything on a cash-out. Rental 1 and Primary both have great equity positions. Rental 1 pays me about $415/mo currently. My thinking at this point is just to refi my primary and save the $300/mo for now, but if you see any better options, creative options that I'm overlooking, let me know. Thank you for your time! I look forward to reading any comments you may have. Also, if any of you know anyone doing a no-cost (true no-cost) refi please let me know. I've done them in the past, but can't find anyone doing them right now, probably due to the market being so hot! This is my first time in this scenario, just want to make sure I'm not missing anything obvious.