HELOC vs Cash out Refi - advice on leveraging primary to invest

[Michael Seaman]

Thanks in advance. Basically I can access $75k in a HELOC and can buy 1 investment that should profit $3-500/month. (Details: $175 interest only payment; purchase price around $60k, rent around $675, property management fees, out of state purchase, no rehab required; ongoing maintenance etc)

OR

Cash out refi nets me $180k cash. Mortgage on my primary goes from $2000 (PITI) to $2830. I can then buy 2-3 rentals, in that same market - maybe spend $100k on 2 rentals, $1200 NOI and have $80k cash for home improvements, or spend it all on investment properties.

I've got about $80k in student loans and I'm not required to be making payments until April 2023. If I cash out $180k, I can have $100k for investment properties, and pay off the $80k loan (7% loan vs 3.1% morgtage). I'd be making student loan payments for about 10 years, and expect to be in my home with my 30yr mortgage for longer than that, 15+ years. 

Part of me wants to pay off the $80k loan and be done with it. And part of me wonders am I trading a 10yr loan for 30 yr loan at the same price, although I'd be adding $100k in assets ($180 cash out minus $80k loan payoff = $100k to buy 2 properties). I have 18 months before I start making payments, and when I have an abundance mindset, I can just make an extra $80k in 18 months and ay it off and be done with it. 

Clear as mud? Anyone still with me care to share your insight or opinion as to what I should do? I suppose my goals are to buy investment properties, and eventually my student loan of course. I have equity in my home, rates are low, and I want to get some rentals under my belt so I can start getting many more. Thank you