Primary Home Refinance To Rental

[Cole Leonida]

Hey everyone,

My wife and I have a primary residence that we are looking to cash out refi. We have been in the home for about 16 months and we are planning for me to take a new job and move to another state. We would like to cash out refi to a much lower rate and take some cash for our next home purchase. Any issues I should be aware of before refinancing and renting? As of today, I have not accepted a new job so I don’t have any actual plans of moving, that is just the hope. Any advice you avoid any tax or legal issues would be great!

Thank you!

Cole