Appraisal high. Cash out or HELOC?

[Tim Kaminski]

My first property just appraised way higher than I expected. Was in process of doing Cash Out Refi but now am hesitant since if I want to take out all available cash, my mortgage will most likely be making me lose money each month.

I am now considering if a HELOC is a better route as I may be able to buy properties outright now and this would keep me making ultimate cashflow on my existing property.

Property appraised for $310K after purchase in early 2018 for $163K. I should be able to HELOC enough for a property + rehab in mid west.

Any insight appreciated. Merry Christmas!