Cash-Out Refinance Question!

[Chad Rockwell]

Our current home has a 3.75% rate and we are refinancing that to 3.25%. OR, we could get about $60K out on a a cash-out refi with a 3.5% interest rate. That would increase our monthly mortgage payment by about $300. And I don't think we could actually sell our house for the newly appraised value (about a $15K difference). 

Is it worth it to do the cash-out and invest that money in a BRRRR rental? (tight time crunch to make the decision).

Thanks, Chad