Cash out Refinancing

[Bradley Perry]

So, I just purchased a lake house as a vacation home. I put 35,000 down. I am renting it through Airbnb and VRBO. The appraised value is 18,000 more than what I paid for it. Since then, I have done some work that I believe would drive the appraisal up at least another 5,000. Would it be a bad idea for me to get my capitol back up by doing a cash out refinance to reinvest?