Refinancing 16 to a 30 year mortgage

[Philip L.]

I currently have a mortgage that was a 30 year but now only has 16 years left.

I no longer live in the property and I am going to be renting it out as a rent to own.

To improve cash flow I am looking to refinance the property back to a 30 year term, is this a good idea? as from my understanding majority of the the interest is paid during the first 15 years