Should I refinance into a 4.5% rate for about 40K to buy another?

[Raul Ramirez]

 I have a rental that is in Killeen,Texas that used to be my primary and I would like to pull equity out of it. The value is about 190k and the loan is 90k @ 15 yr fixed rate 2.25%. I feel like these are great numbers and it cash flows about 380 after expenses. I would like to find a way to purchase another property for addition cash flow. I've found a way to pull about 40k but I have to refinance into a conventional 4.5% 30yr and pay 1 point for the loan. I'm having doubts that I would be able to find a cash flowing house that pays an addition 300-400 using that as a down payment or buying in full. I'm still fairly new to the BRRR and just started getting into this more. I appreciate any help. Thanks