Hloc or refinance what to do ?????

[Rick Perez]

Hello everyone, 

i need your expertise so we're do I begin. I am moving from Florida to Western Massachusetts to chase my dream of long term rental real estate. I will be using the BRRRR.... Strategy as my primary method. So my question is I own my home in Florida and currently owe 155,000 on the mortgage at 4.6 %interest rate. The home is valued at around 270 or 280 conservatively. Which at a 80% refi or Hloc I would be able to pull out about 60,000. I will be renting the home i have a studio which my parents rent at 500 and the main home will rent for 1400 a month so a total of 2,100 a month in income. Should I refinance and get a lower interest rate and get rid of the PMI with a higher payment at around 1600 a month or should I take a Hloc and leave the monthly mortgage the way it is ?please ask any additional questions if need clarification. Help !