Seeing as it is well located and owned outright, I would look at refinancing as an option but I personally would go with renting! 

(I could probably get this increased but I'd have to get primary residence Sq ft re-evaluated since the basement is finished and heated but of course thay would increase my property taxes.)Thinking about refinancing primary residence and taking money out to do the additional building. 

it doesn't affect people who refinanced when interest rates were low, and it doesn't affect people with no mortgage.https://finance.yahoo.com/news/housing-market-historically-u...now to be clear, i'm not saying it's a good thing - it's not. 

I am refinancing a property to free up money for additional investments.

One option is a marine loan, which is a type of loan specifically designed for purchasing or refinancing a boat.

For the funds: If you already own any real estate, look into getting a HELOC as opposed to refinancing.

The last BRRRR I did of that size, was in 2021 when I bought a small single family for $20k, rehabbed for $10k (plus my own labor) and refinanced out $45k.

Do it again after refinancing that property and buying a few others and you'll have about 20k/month at today's money pouring in. 

I have moved a few from personal to LLC, first I refinanced them into my LLC then used my attorney to transfer the title.If you have any further questions feel free to reach out.

However, I don’t intend on refinancing this property again - possibly ever.