Building a kitchen downstairs in my 2 level house

[Andre Houston]

I purchased a 2 level home 4 bed 3 bath so it has 3 bed 2 bath upstairs an 1 bed 1 bath downstairs it also has a like a rec room downstairs I am thinking about putting a kitchen in the rec room an renting out the downstairs my mortgage is 2900 I paid 500,000 for the home its estimated to be worth 710,000 on redfin I'm trying to cover some of my mortgage by renting out downstairs my question is if I had that kitchen downstairs can I do a cashout refi to get my money out of the deal its going to cost me about 13000 to do it plus make a door downstairs because there isnt a entry way downstairs also I wanted to put a washer and dryer upstairs because they have one downstairs so it would be like a 1 bedroom apartment all in at about 17000 can I consider this the brrrr strategy an refi after it's done an get my money back out to reinvest in another deal?