Quote from @Nicholas Pugh: So based on these advantages, is this the right time to Refi or wait?  

Quote from @Nancy Almann: thanks @Kevin Sobilo - tenants who live in another, smaller apartment want this unit for their 4-legged family. 

From that point forward, you can expense repairs and maintenance without capitalization. 

If it takes all or most of the proceeds from the sale the settle the debt then there would be little to no income.  

If this is financing for a stabilized property rate carries more importance but rate combined with origination fees, pre-payment penalty and term in which you intend on keeping the loan in place are all considerations which together should help in deciding the best financing option.

Can you shed more light on why you need this money?

From there everything is workable. 

I am a busy man, sometimes more than others, as we all are.I come in here to help others when I can.I make no money from this-and making money is my primary focus.That and handling the responsibilities and time consuming tasks that go with it.I also lead a very comfortable life full of friends and business acquaintances that take up a great deal of my time.

We have a duplex with an extra flagpole lot that we are hoping to set up with an ADU for short term rentals. We're working on figuring out the local regulations for ADUs here which are a bit more confusing as it's alr...

But before you do this I would think of the “market rent” you plan to charge.