Cash out refi rental?

[Chris Burke]

I have a property that has increased a large amount and I am not sure if I should do a cash out refi as the majority of our money is in the property and the rate is super low. Property could appraise around 1.2 million.

Bought for $450k 

Loan: $400k 

Rate: 2.99 (28 years remaining) 

Current line of credit of $200k out on the property via HELCO (9% interest) 

Any advice is greatly appreciated.