Perfect BRRRR but bad CoC after Refi. Good Or Bad Deal?

[Luke Tetreault]

Fairly new to investing and I am looking for some opinions on BRRRR rentals that don't perform well right now with the high interest rate but are perfect when it comes to getting your initial investment back out. Yay or Nay?

Example of one of mine - 

After the refinance, I was able to pull out my initial investment of 87k plus an extra 21k. Which was great and allowed me to keep pushing forward. Now the issue is, with the 7.5% rate after refinance. It only operates at about a net 6% CoC return after taxes and insurance are paid. I look at it both ways, I essentially got it for "free" but it doesn't bring home a ton. Are you guys calling this a good deal and just wait for rates to drop so it cash flows better? Or a bad deal, and I should probably dump it? I have a couple right now that all fall under the same circumstances so really curious as to what everyone thinks.

Thanks for any thoughts!