1031 or 75% refinance cash out?

[Robert Skruhak]

I have a duplex I am looking to possible do a 1031 in Austin TX. I have also been reading up on the BRRRR method so was also looking into doing a 75% cash out refinance. Here are some numbers below.

Purchased in 2015 for 260,000 (FHA loan)

Current mortgage remaining 227,000

Appraisal estimate= 385,000-415,000

Estimated cash out= 70-75,000

Which would make more sense, I think with the cash out refi could still have possible a $ 300.00 cash flow and around 100,000 equity left (25%)?