Refinance: Nov. 2021 - Property appraised for 480K, I completely paid off my second, and the interest rate went from 4.25% to 3.25%Rents While Living In Property: $2,000 per month. 

I know that poses a challenge for me when it comes to comps in preparing the numbers for an offer as well as making sure I g wet as much cash out when I refinance.

Additionally, I’m interested in exploring the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) to maximize my investment returns.I’m eager to learn from this community and share my experiences as I navigate this exciting path.

Generally down, likely, but do you have an idea of where the sweet spot to refinance would be?

Sounds like your lease and your personal policies need to be refined.

There's a price/rent lag because leases are typically for a year so there's the delayed effect of old leases playing out before upward pressure on rents does it's thing.With that said, there's also your ability to refinance out of that rate and improve the rentability of it that way.

One route is to explore refinancing these properties into your name with a cash-out refinance, which would allow you to access some of the equity while officially transferring the deeds.

Let's assume a $400,000 property with a 25% down payment.25% x $400,000 ≈ $100,000If the appreciation rate is 8%, how long will you need to let the property appreciate until a cash-out refinance yields the needed $100,000?

Arm Loan - 5.250 (after five years the rates can go up 1.25%  ( I will need to refinance before year 5)  

Doing my refinance now and the rate is 6.9 in Upstate NY, so seems pretty reasonable