Should I Refinance my primary residence to buy a rental property?

[Reegis Sanche]

Hey all! I’m new to real estate. I have minimal experience being a landlord - I currently rent out the basement in my primary residence it’s a 4 bdr bi-level. I’m wondering if it’s a good idea to refinance and take out the cash equity to buy a rental property. In the future I don’t know if I’m going to sell this house after I finish rehabbing the kitchen or if I’m going to keep it as a rental property. Let me know if you need more information or your thoughts, thanks in advance.