I was recently stationed in Japan while active duty and throughout my last deployment I committed myself to listening and reading as much as I can on self development, long distance real estate, healthy marriage, and overall life success achievement.

Hi Ujwal - Yes, interest will be deductible as the funds are being deployed towards the other rental properties.

(we have terminated relations with the property manager) We are in the military and deployed over seas. 

Of course, there are always exceptions to the rules---for example, if you can get a greater return on your investment by deploying the equity elsewhere or if the cash out refinance will be dedicated to improvements/efficiencies meant to improve cash flow---these are just two circumstances were your thought process could make sense.

And they definitely needed that $200,000 for this renovation project, because as you can see, they and a lender who deployed the funds for this would likely be boarding a sinking ship. 

If youre planning on continuously deploying the cash from the equity in the condo, a cashout refi probably makes the most sense.Conventional loans are typically the better deal vs DSCR, but you wont be able to get a Conventional loan if the property is owned by an LLC.

After power school, I'll be deployed for weeks or months with only limited email use. 

What's your budget and capital you're looking to deploy? 

If you have maturing debt on the property or need to deploy this cash elsewhere, I would try and see it through with your current lender & work toward a solution.

I have the opportunity to purchase a 13m SFR portfolio, however, most of my available cash is deployed into a 1031 and BRRRR deal.