HELOC or max out cash refi?

[Jennifer Szostkiewicz]

Hello all, I am looking for pro/con advantage/disadvantage to using 1) HELOC or 2) max out the cash refi on our primary home to use towards new rental ventures. By using a HELOC we use what we need as we need it and the basic mortgage payment stays lower allowing us to continue paying it down. Even if we do a max out cash refi our personal budget is still well within our means, but since we are also trying to pay down the principal as quick as possible I'm thinking of the HELOC too. We are inheriting my husband's parents property, we are in central Florida if that helps, they passed and we plan on fixing up the existing home (an older modular home) and renting it out, but only half the property is being used by that house, so we want to use the other half of the property as a second rental, it would need to be surveyed, rezoned, cleared out, and we would probably put a singlewide or doublewide there. This is our first venture into real estate and land lord, but we also plan on continuing to get more rentals in the future with BRRRR. Any advise or experience with this would be much appreciated as well.