Exploring financing for a property I own, please help.

[Harrison Schoen]

I’m a newbie in real estate investing, but I seek some advice on what to do with the property that I currently own. 

I purchased a condo nearly 1 year ago using my VA home loan, the total amount of the loan was $326,600 at 4.25% making my monthly total payment with HOA, tax, and insurance $2,292. I've rented the property for the past year at $2,300 per month. I now owe $322,000 after one year of renting the property out. The house is now worth approximately $350,000 after slight renovations and market appreciation.

Rates have dropped substantially in the past year, and I’m curious if I should refinance to a 3.5% (lowest rate without buying points) and add the closing costs to the loan balance, ($13,000 or so) making my new total $335,000 and dropping my monthly payment $140.

The numbers make sense for cash flow, but not if I were to sell the property within the next few years due to paying the VA loan fee, and the Closing costs due to refinancing.

What are my options? What can I do?