I don't see any benefit other than saving a couple of hundreds of interests. it might even be beneficial to ask for lender credit, so better than shopping around for lower rate.

If you have a relationship with a banker and you can talk to them before submitting the LOI that is beneficial.

@Matthew M Spolsky know/remember your “why”.For me, RE investing is my main retirement vehicle of choice but it’s really about my responsibility to provide for the future needs of my family and most importantly ensure my wife is taken care of.

But, regardless the situation or circumstance, in life you only have 2 CHOICES, MOVE FORWARD or GET LEFT BEHIND.I am really interested in learning real estate, and feel like I am ready for the next step, but I fear that it couldn't have come at a more un-opportune time due to everything going on, and I have been stopped in my tracks.

Thanks to everyone who offered input, seems like the smart choice here is to save more cash without getting any more leveraged! 

A lot of choices for this too.It's very uncommon for the mixer valve housing to go bad (they can leak but don't often break)The joys of home ownership...

As far as speaking to lenders, do you think that it would be beneficial to go ahead and talk to them or wait until I get more “serious”?

I started with one of the largest brokerages in Maine and then switch to EXP Realty and I've found the change to be very beneficial.

@Jonathan Santiago, and here's where the boring 1031 guy chimes in and says that it's not just the reduction from ordinary income to capital gains that is so beneficial when you choose to hold your flip longer and demonstrate different intent. 

@Benjamin Papet the primary purpose for BRRRR is to help build your portfolio so the refinancing step is intended to accomplish a couple things: 1) affords you with lowering the cost of debt and 2) most importantly, it provides you with the funds for your next deal, hence the "repeat" step.There is a delicate balance with how much debt and leverage you should have so that is a personal choice based on your affinity for risk and how much reserve you have.