Some will buy with cash with the goal of refinancing the cash out later, so that could be a strategy. 

Rehab it, we refinanced it and put a renter in it.

This structure offers liability protection, scalability, and tax benefits but involves administrative complexity, potential California franchise tax if managed there, and refinancing challenges due to personal guarantees.

.), and interest rates will normalize again so refinancing will help bring down the interest rate.

If you are refinancing within 60 days of your renewal date, you will likely have to pay the first year's premium at closing.

Refinancing could be a challenge if your score hasn’t improved by then.

Later I refinanced it with a VA IRRL for better cashflow.

If you are just refinancing, you would be fine.

There’s no specific IRS rule against refinancing a cash purchase and deducting the interest, as long as the property is used for investment purposes and the loan is secured by it.

., cost segregation studies), carrying forward 2024 losses, and accelerating deductible expenses to reduce taxable income.Shift to Passive Investments: If management has become burdensome, hire a property manager or transition equity into more passive assets like turnkey properties, syndications, or REITs to reduce workload while maintaining income potential.Expand or Reinvest: Use your equity to acquire new cash flow-positive properties in markets with strong fundamentals, focusing on diversification and long-term stability.By refinancing, selling underperformers, or paying down debt, you can improve liquidity and cash flow.