HELOC, refinance, or equity loan on paid off rental.

[Cameron Leckliter]

I currently own (through various circumstances) my only rental property outright. House has been a rental since 2016, 2/1 renting at 1100mo (which is on the low end). Based on similar houses its worth around 180k.

So now I'm needing the funds to really get things going. Ideally I'd like to BRRR so I can make the most of whatever cash I can leverage, but with the market I may not find many deals (at least not at first). Looking at buying SFH, but would rather get into storage units if I could or multi family. (Still learning)

I've been leaning towards HELOC, with less fees and the "credit card" type use. Local credit union offers a 2.74 for the 1st year, 3.99 after. I'm still looking into rates for equity or refinance, but I assume they are close-ish.

Just wanting to know what more experienced investors would do.

Thank you in advance!