Should I do a Complete Refinance, or HELOC with the BRRR method?

[Kaleb Joyner]

Hello BP Nation,

I'm currently house hacking a BRRR deal, and have come to the point of pulling the renovation money out of it. I have two paths to take in this situation:

1) A complete refinance to pull cash out, only assuming 80% LTV can be achieved.

2) A HELOC to pull cash out. Bank tells me they'll lend 90% LTV.

Either way it is done, all initial renovation costs will be fully recovered. However, I could use to extra money to leverage my next deal, and obviously there are extra costs associated with a complete refinance (closing costs). 

What are your thoughts on these two paths? It seems a clear choice here, but seeing as this is my first refinance I want approach it carefully. 

Another question that I have is, when providing the bank with a refinance/HELOC package, should I provide:

1) A list of improvement with or without costs factored?

2) A list of comps to show that I have good reason to request a refinance/HELOC?

I also understand that there will be a new appraisal done, I just want to be sure and put my best foot forward with the bank. 

Thanks in advance for any input, BP. This is literally the best community on the internet.