Should I refi and get extra cash immediately or should I refinance and lower my payment to build better cash flow?

Fewer turns mean fewer expenses.

That lower acquisition cost can, though, payoff over time with the goal being buy and hold as rentals. 

I'd recommend having 1 QB account that both you and your partner can access for reports and income/expense tracking.Regarding the platform, I've used QB for over 4 years and its been a game changer for me.

Monthly owner statements as well as keeping track of expenses is part of the PMS.

Another option, that I say good results is listing in zillow, at the time it was free to do it there.In my case, I have negotiated with my realtor a lower one month commission to a 75% of the first rent, and he manages all the calls, tenant verification, and showing.

Goal is to reduce your biggest expense (housing) with income coming from the ADU to save money for your next RE purchase.

I've never done a re-fi before-- It just is so expensive to do commercial financing.

Understanding the potential rental income is crucial in assessing the profitability of the investment.Expenses: Do you have a clear understanding of all the expenses associated with owning the duplex?

Most lenders have seasoning requirements, so you would need to own the property for 12 months to obtain a loan based on appraisal rather than lower of appraisal or purchase price.The longer the period of since property purchase the more likely an appraisal higher than purchase price.The exception may be a "hot" market where prices are moving up sharply almost every day.