I’m wanting to know if now is a good time to consider refinancing?

If prices fell, I wanted to be able to make it through to the next real estate 'peak' without losing the property.I eventually refinanced the property about 1.5 yrs later at a lower interest rate.  

This of course would increase the interest rate of the loan and reduce the term from about 28 years (we just refinanced) to 20 or 25 years, blowing a hole in our potential cash flow.  

I am at 5% for a 30 year loan for one of my SFH investment rentals(that i got in beginning of 2018) and wanted to check if its worth re-financing.

So we extended our construction loan, put it up for rent, vetted the prospective tenants, selected one, and now are working on refinancing this Blue Beauty to hold on 30-year financing.

However, she had refinanced that mortgage with a $185k mortgage to a private Lender 45 days earlier.

It's currently rented out, refinanced, candidate for future 1031 exchange.

If the property is in a good location, and by renting the property you can make it positive cashflow (ie, rent minus all outgoings including mortgage still leaves you with profit left over, then it would certainly be worth looking at keeping and refinancing out as much equity as you can (but stay positively geared). 

@Andres BernalYeah, @Michael Ablan is right that you put yourself in a bad situation for refinancing, but I wouldn't stop looking.

I'm trying to understand how refinancing can supercharge your investing.