Investment Refinance Help

[Julia Beresfoes]

I have owned a duplex for 11 years in the Virgin Islands.  The interest rate is 4.48 and I owe $155k but it appraises around $230k.  I have been told by the banks that current investment property loan APRs are higher than I have now and that when I refinance I cant take much cash out because of it being an investment / multi-property home.  Another challenge is where this home is located as many banks will not write loans for this location.  

Any suggestions anyone has as to what I need to do to have this property work for me in terms of me making money off of it, how to refinance it etc. would be super duper appreciated.  I am completely lost when it comes to all of this.  The minute I feel I am educated the bank makes me feel like everything I thought I knew is wrong.