Cash out Refi or HELOC??

[Axel Kusber]

I am partnering on a flip and wanted to make sure I had enough access to cash / credit if needed. Currently have $40K cash as well as have a rental property that has about $90K in equity that I could tap into. I have budgeted $45K for the flip and am wondering if taking out a HELOC on my rental property would be "smarter" than a cash out refi, using the funds for additional flips and or rental properties.