HELOC on investment Property vs Cashout Refinance

[Khemaro N.]

I have a 4 unit investment property that cashflows handsomely. I want to refinance and cashout the initial investment capital to redeploy it elsewhere. However if i do this my monthly debt service is going to go up. A friend suggested that I takeout a line of credit instead of a Refinance. This way I won’t have to pay closing cost and my payments remain the same. I would only deploy the line of credit money towards new investment. What’s are your thoughts?