I had refinanced at 3% for 15 years prior to moving out.

One example had me lowering my payment for about $120 (7.5%) a month by refinancing my current balance.

Refinanced and pulled $120K to buy a $420k duplex, cash flowing $800/m at COE.

Many people are aiming for -$500/month cash flow now and then hoping to break even or go positive after refinancing in a couple years at 5%.- You're right, if you want to maximize your first priority (positive ROI), you'll usually benefit more by finding an underpriced rehab on or off market and then developing it with an ADU and/or DADU.

Committing to long-term ownership, planning for refinancing, and only exiting when there are substantial returns for investors.Additionally, it's important to emphasize that my mentor isn't providing mentorship or coaching for any commercial gain.

lets look at renting and refinancing options 

So no refinancing for awhile. 

If you plan on refinancing within the next 6-12 months, you might as well wait and hopefully you'll be fine.

Refinanced the property for a higher than expected value and was able to pull out my initial investment.

Haven't refinanced or pulled a HELOC.