Using BRRR and going AirBNB with my first deal???

[Christopher Curry]

Good Morning, this will be my first official post and I couldn't be more excited to be bringing this deal to the table. 

We bought a single family home for 137K in Palisade CO a little over a year and a half ago.  When we bought we put it immediately on the waiting list to become AirBnB as this is a gem of a town with the travelers.  We were approved (by the grace of god) to become an AirBnB just over a month ago when we also decided to see if we can get equity out to finish needed repairs for the AirBnB.  To our delight, our house just appraised for 234K and now we have the option of pulling much more equity than we thought.  

My question to Bigger Pockets Members is, do I take option A, B, or C that my lender has but out in front of me?  Option A is for $20K/ interest @ 4.5% and 30yr fixed, Option B is 35K/ interest @ 4.5% and 30yr fixed, Or Option C take 46K/ interest 4.875% and 30yr fixed? 

We have calculated this as a BRRR deal and it cash flows even at option C. So do I pull the big chip and begin to build the next deal or do I try and stretch 20K as far as I can to make this loan look a little nicer for years to come?

Thank you already,

Carlee & Chris 

P.S I can send our calculator PDF if anyone would like to analyze with more specifics in hand.