Refi a BRRR? or Paydown the HELOC??

[Sean McElligott]

I love the BRRR strategy..however im stuck...if i take a HELOC out to buy a $140,000 property cash, do I refinance and get back about $98,000 (70%) to pay back SOME of the HELOC or do I keep the property paid off and pay back the HELOC monthly with rental income? I'm confused where to keep the debt: in the houses with a refi or with a HELOC...I would def refi if I was doing a HELOC to get the 20% down payment but im not sure what to do when you use the HELOC to pay off the house up front..