Plus, that is the cheapest that money will ever be for you.  2.65% interest rate? 

Don't expect rates to come down. 

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.

Also, I would look at rental rates to property values to determine if any areas are around the 1% rule.

Those sounds like great rentals and vacancy rates have been decent - our management team only has a handful of vacanies out of the 300+ we oversee, thankful for that.

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

Congrats on your success so far.Some random thoughts for you:- It might be difficult to tap the equity in the rental at this time given the current state of interest rates. 

This for us is preferred over seller financed deals as we can do 65% LTV, 800 credit with someone who has net work 2x+ loan and get double digit rates. 3.

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score.  Want to get a loan for $250k in AZ

@Chinku Chinku the rich get rich by making their money work for them.They borrow at one rate, to invest in something that returns a higher rate - they profit on the difference.Only you can evaluate your risk tolerence though.