Advice on refinancing Toledo multi family rental

[Moazzem Hussain]

Hi (Apologies if I picked the wrong forum, I tried my best to pick the right one)

I own a multifamily in Toledo, OH that I bought cash. I want to do a refinance to get the money out to be ready to buy another property. It's a 4 unit property, and currently one unit is rented out and the other 3 are actively listed (the property was first listed in August). I've owned this property since March, 2020, and paid 130K for it.

I wanted advice on the best way to take out the most that I can for this property, so I can buy my next one. Some questions I had were:

1) As this is an investment property, what kind of rate can I expect? I own this under my name, and have 800+ credit.
2) I hear the property market in Toledo isn't always appraised well, are there local banks or credit unions that appraise these properties better? Should I be working with them instead? Or does it not make a difference?
3) How should I go about finding the right bank? LendingTree? Talk to the banks I bank with? My priority is an appraisal close to what I paid for the rental.

4) What other questions should I be asking?

Other things possibly worth mentioning. I am 2 years into a 15 year mortgage for my primary residence. Thats the only other debt I currently have.

[Stone Jin]

@Michael P. not sure why you think I'm an expert on Toledo or financing.  But since you've tagged me.

@Moazzem Hussain 

1)We are doing a delayed financing with 0 points in the low 4% range.  Honestly at your price point the difference between 3.5% and 4% is like $30 a month.  I would find a lender who is easy to work with rather than spending a lot of effort to save 1/2%.   You may also check with the lender if you are eligible for delayed financing rather than cash out refinancing.  Not sure if there is any significant difference since your property count is below the requirements.  For example, we have to do a delayed financing to pull money out without seasoning since our property count exceeds the threshold.

2)Appraisers are independent.  They do not work for a bank.  Just make sure your properties are clean and easy to access.  Also have some of your own comps available to show him.  

3)My lender in AZ got her license just for me in Ohio, DM me and I can share her info.  

Sounds like in your case a conventional loan would fit the best, however as you grow you will need to consider loans outside of freddie/fannie.