Leveraging a property in todays environment of high interest rates will not get you cash flowing. 

In addition lower rents will decrease the value of a property, not necessarily its appraised value, because no buyer will desire to pay retail for properties with reduced cash flow.

The only real differences are the rate and term.

Commercial properties can be lucrative, but the financing/underwriting required from lenders is generally more "conservative" relative to residential and usually have higher interest rates (unless you have a "rock star", long-term commercial tenant in place) and generally require more equity from the borrower compared to residential.

Then determine your burn rate, days between call to cash, take down ability and average profit per opportunity. 

When tenants stay for ten years, it's usually because their rent is well below market rates.

The findings are particularly interesting for those focused on the Columbus, Ohio market, which topped the list for both two-bedroom and three-bedroom rental searches.The report also notes a shift towards more apartment searches, influenced by the scarcity of single-family homes and rising interest rates.

What you’re counting on is even a slow rate of appreciation, say equal to barely inflation, called it 2-3% being multiplied by 4 or 5X because you only put down 20-25%.

I'd only consider refinancing the primary residence for the best rate. 

The success rate is below 30% so it is always do some arrangements with the tenant or move on depending on the case.