@Timothy Hero has a good point, you should look at the benefit of the cash-out funds, as a comparison to ROI where you are now, and where you would be if you did this refi and paid off a property (the +$400/mo or w/e).

Hi Timothy,I'm looking at the Phase II options for Riverwalk, possible whole purchase as an investment property.

Timothy, I should have read the message I sent out thoroughly before clicking send.

Hi @Timothy B., welcome to the BiggerPockets forums and grace be with you!  

Way to take action, @Timothy J Sylvester! 

@Erin Francis How long do you think it'll last? 

Originally posted by @Timothy Hero:What's the details of  the property you're purchasing?

Thanks for the mention @Francis Rusnak.  

My name is Ross Francis.

Thank you @Francis Jonas Helstab