Cash Out Refinance on my own home?

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I currently own a home that I had used house hacking to pay for most of the mortgage every month and save part of it for a full renovation of the kitchen and floors. I purchased my house for $189,000 a couple years ago (2019) with a 15k down payment current interest rate is 4.25%. According to Zillow and houses that have sold around mine very similar in size and lot, it states my house could be worth around 266K. I spoke to a real estate agent and she stated she thinks she could get upwards of 300k. This is without having an appraisal of all the new floors, New Appliances, New Roof, New A/C, and new water heater. 

I want to get into real estate investing, have 20k saved but I was planning on using it for a ring. I was wondering if it would be even a remotely smart option to do a cash out refinance to get money for another downpayment on an investment, or do you think I should sell the house completely and reinvest the equity elsewhere?

Any thoughts on getting the capital to purchase another rental would be great.