That’s $900 per year in earnings.  

What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

Where do you find details on prices, demand, cash flow etc? 

He had already been working with another agent for some time, but he was willing to give me a shot.Over the next few months I earned the spot as his go-to agent, selling him one or two homes a month and helping him find tenants after the renovations were complete.

Since you want to aggressively invest in the near future, you will need cash and the 30 year option is the right one for you.

So if you are anticipating higher rents and therefore higher income next year you may want to wait till then if you are trying to maximize the amount of the cash out refi.

The cash on cash return is only meaningful when you evaluate it based on your long term plans.

Thanks to COVID, for a couple of years, you can actually make enough money to be cash flow positive even if you hire a property manager AND have mortgage payments. 

I would be looking to cash-out between 300-400k.

Jackson County TDR is working hard to position our area as a year-round destination, and it is catching on, but I wouldn't count on significant, year-round cash flow from a vacation rental here.