Own 2 homes free and clear wanting to scale.

[Byron Paille]

I currently own 2 homes free and clear. One older I bought at an auction  and a new build. I have a large lot and approval to build a duplex. I am done spending my money and am looking to scale. 

Do yall do a refi for this or get a heloc? With rates at this level I an not sure places will cash flow at 80% loan value. 

One home is worth 125k and new build is hitting the 230-250k mark.