Looking for long-term conventional refinance (potentially cash-out) for a SFH.

potentially refinance and do it again. 

the numbers didn't work when i went to refinance, so I sold it (as @Jaron Walling noted, it turned into a flip.)  

To avoid an issue just refinance the property and convert to investment if you have at least 85% LTV.

First, you won't be able to refinance with a traditional loan with multiple ADU's on your primary home. 

The rate is competitive but just keep in mind that you will be hit with 5% to 1% of the loan amount if for whatever reason you refinance on year 1, 2, 3, 4, and 5.

To pay for the renovation, we did a cash out refinance.

If you owe a HML at 14%, then that means you have to refinance into another loan at 8% (or so). 

Hi Ian,The best way to get this done is to refinance into a hard money rehab/construction loan.Not sure how much equity you have in the house but the ratio would be as following.75-80% * (Value of home+Cost of build/rehab) = Total Loan AmountWe would payoff the initial note (+ closing costs if loan amount exceeds construction budget & payoff), the rest would be in an escrow account for you to draw from as you complete your project.I would love to connect and discuss further on the details of this scenario!

Comps showed in the market a valuation of about the same (~$40k) for an additional half bath, but getting it from an appraiser on a refinance would be challenging (probably very challenging).