I’d say it depends on what your next move is- if you need the cash from the equity to rehab a big money maker or for a non VA down payment then cash out, if you’re just looking to keep cash flow while accruing more equity, then refinance.

There are a load of fees that have accrued during the past 2 years that POL will take off the top.I don't mind the open houses since this generates buzz and hopefully some leads to sell the property. 

Thank you everyone for your reply replies, I did not quite understand how a cash out refi worked, as I’m reading your responses I’m beginning to understand that you can’t cash out refinance a turnkey property unless it goes up in value through renovation or appreciation or if I hold it long enough that’s it accrues equity.

It will accrue interest and will be on his CBR.  

So many people have so much to offer just based on what they've accrued in their lives thus far, real estate related or not.

Also, I’m paying my Jan 1 mortgage payment in December as the interest on this is accrued from December and therefore it’s not prepaid interest.

Prior to that he took a 9 month break from paid work to work with me on setting up a new business, but a family situation forced us to put the business launch into hiatus after having accrued ~$35k in cc debt for the new business.

So if I used a HELOC, I could pay it off so I wouldn't have interest accrued on anything.

Even though the cost of living and REI is much higher, the ease of accruing seed capital is much higher now. 

If you actually land with someone that accrues late fees, it’s unlikely to stop there.