CASH-OUT REFI ON RENTAL PROPERTY WITH NO MORTGAGE

[Syreeta McDonald]

Hello. I own one rental property with no mortgage. A tenant is moving in next month. I would like to take money out of the property to put a downpayment on two other properties. Would a CASH-OUT REFI be a good option? What do lenders look for in order for me to qualify for the CASH OUT REFI? Would I then be able to get a DSCR mortgage to finance the other two new properties (one would be a long term rental and the other possibly a midterm rental)?

Thank you.