Would you Refinance this Deal?

[Matthew Masoud]

So April of this year I purchased a 10-unit multifamily property for $600k. Put $171k down + Closing costs. Financed $450k at 6.5%

I stabilized the building fairly quickly using only cash flow. It's now worth $800k. 

Bank told me I can refinance and pull out $130k at 7.5%-7.75%.

The pros are I can use this money to build up my war chest. Deals are coming and my funds are lower than I'd like them to be. Also after the refi I'd only be in the deal $41k skyrocketing my cash on cash.

The cons are, I'm increasing my interest rate by a point and this refi would put my DSCR right at 1.2 meaning this property would be cash flowing very little.

Would you refi?