Refinancing multifamily unit

[Michael Darten]

Hello BP family!! I have a MF unit that i am able to purchase in my local area. The numbers look good for coC , I just wanted a few opinions on refinancing . Using round numbers for example I will buy the property out right cash . It’s worth 1.5M. When I refinance, the LTV is 70% , can I cash out on that 700K remainder and invest that into another property ? Basically I want to se if I can do some kind of snowball effect if you will. I’m in the Las Vegas NB market.