What's most important is what aligns with your goals and your investment thesis?

You are correct Stephen, that is why I said there is a process involved with it with the end goal of termination letter.

However, due to rising insurance and tax costs, I'm starting to feel the financial pinch as the tenant currently pays rent 60% below the market average.My long-term goal is to acquire more properties, and I've considered doing a cash-out refinance to access equity for reinvestment.

With high price per door and high rates, you wont find any cash flow.STR market is also very saturated and we're seeing more regulation there.I'd keep the end goal bigger multifamily deals.

Don’t hesitate to ask questions, share your goals, or contribute to discussions.

I would rather you focus on finding a market that gives you the highest probability of achieving your goals. 

Long term goal is to continue building my portfolio of investment properties. 

Also, your real estate goal matters too.  

Every investor  has a different risk tolerance, comes from a different financial situation and has different financial goals.

If the goal is to refinance within the next couple of years it could make sense.