Minimum property standards to refi with an Agency mortgage are identical to minimum property standards to purchase with an Agency mortgage.

I think what you have here is an identity issue to resolve.

@Jim Y.We all want an identity.

Our thought are identical.

Here’s my last buy august 2019- $60k purchase, $15k rehab, currently rented for $1450, house next door is identical and sold for $153k earlier this month, but my house is much nicer since it’s a new rehab. 

Primarily that you will now cut your monthly cash flow since debt service will increase with a higher principal (unless you refinanced into a much lower rate environment)However, Cash-Out Refinances are riskier for your Lender for a few reasons, so they will typically charge a higher rate / points for the privilege (versus an otherwise identical loan thats a rate-term refi or acquisition)Why are Cash-Out Refinances priced higher by the lender?

I was looking at two properties that were basically identical.

And in the medium term, the Tesla I am driving is so much more of a car than those BMW and Mercedes, and when they come out with Model 3 in two years for $35,000, and cost of ownership becomes identical to that of a nicely equipped Honda Accord, there will me a mass shift to electric transport at the household level. 

Highly unlikely...Here's why.Once you've decided where you want to invest, I believe your very next step is to identity resources that are local and active in that market.

He has a 16 unit townhouse complex with 4 identical buildings.