Equity Line vs. ReFi for BRRRR strategy

[Jason Burr]

Ok, this is most likely a simple question but I feel I'm putting too much thought into it and would like others thoughts and opinions.  What are the pros/cons with going with a equity line on a rental property vs a refi of the property.  I know that @Brandon Turner promotes refi the property.  I wonder if there are any folks using an equity line to buy their next buy and hold vs. refi. a previous property to pull cash out.  My first thoughts are that a equity line may avoid some bank fees that come along with mutliple refis.  However, I fear I'm overlooking something.

What are some of the variables that come into play....I'm looking at rates, bank fees, appraisal requirements.

As always, thanks for the comments.

Jason