Refi out of FHA or use HELOC

[Andre Perez]

Hi Bigger Pockets Community! 

I bought a 2 family house hack almost a years ago with an FHA. Since then, the price of the property has appreciated a ton and I purchased the home under market value so there is a decent amount of equity. Should I refinance out of an FHA to eliminate PMI (which would save ~$500/month) or get a HELOC so I can use that capital to invest. Thank you in advance for the help!