I'd personally wouldn't refi it.

Personally, I get great cashflow in my NC markets that I invest in, and have gotten to enjoy a lot of the appreciation there as well.  

I am a handy person who would be able to perform much of the home renovation myself.

These professionals can provide expert guidance, conduct a thorough assessment of your property's valuation, and represent you in negotiations or appeals with the assessor's office or assessment appeals board.Attend Assessment Hearings: If your jurisdiction offers assessment appeal hearings, attend these hearings to present your case in person.

Each person further down the line hoping they can scam their way in to get paid, and actually having zero idea who the actual contract holder is or who the seller is. 

House hacking will also give you some personal "property management" experience.

You will also gain valuable experience that you can leverage for other opportunities.Speaking from personal experience, I have several STR rentals in California (I co-own STRental Pros in Orange County, Los Angeles County, and Riverside County).

So, it's personal, for me.     

Ideally, my buyers are fully employed and financially liquid foreigners - be it from the US, the UK, central and northern Europe - either a single person or a couple with 0-1 kids, looking to live there right now, rent it out as an investment and then sell it, or use it as a future base for retirement.

I use Travelers and had insurance on the landlord, dwelling and personal property level (because if the place is furnished by you, you have to have insurance on it) and they didn't cover anything.