Can I do a cash-out refi on my SFH with an ADU/back-unit

[Brandon Carlson]

Hello BP

This question may be straight forward but I've read mixed reviews on this topic. So let me explain my situation. I currently own a SFH in Los Angeles County, 15 minutes east of Pasadena. With all the buzz around ADU's, I'm strongly considering converting my 2-car garage into an ADU. In addition to that, I have enough land where I can build an additional unit, 3 units total. I plan on using cash for the ADU.

I have equity that may be able to fund my 3rd unit which will be a 2 bedroom 2 bathroom 1100 sqft. 

My question is: Once the ADU and back unit are complete can I do a cash-out refi and use that extra equity to buy another property?