Advice please--cash out or line of credit?

[Maureen Rhodin]

I was fortunate to have a mom that made me invest in real estate in my 20s. I now have 2 properties that are debt free (15 year mortgages). I'm finally educating myself on these investments and find myself qualified for a commercial mortgage for about $400,000. I'm planning on purchasing another multifamily, but I haven't found it yet. I need about $60,000 for current repairs. Do I cash out the $400,000 at 3.8% or get a line of credit at 5%?. The cash will cost me until I find my next investment, which could take a year or more. I'm more comfortable paying a bit more to use the money when I need it. Having that amount of cash sitting in the bank is also asking for trouble...Would appreciate your wisdom--thanks!