Advice Rental Property Bought with Tenant Already In

[Hai Doan]

Hello, I recently purchased a home that was already rented out with a tenant.  They have until September before the contract is up and I took out an investor loan for it.  The current lease rate barely covers the loan in which I will need to refinance out of soon.  My question is, do you do exterior rehab and try to refinance out as quickly as possible or should I wait until September when the tenant is out, rehab the property, and then refinance out?

I am getting my feet wet again after 10+years so would appreciate the feed back.