HELOC, Home Equity, or Cash-Out?

[Brent A Schmierbach]

New investor looking to buy my third cash-flowing property.  I have about $450,000 equity in my primary residence (in Colorado) and want to extract $170,000 for a down payment on a property that cash flows extremely well (in Florida).  

1) HELOC @ 3.125% variable (pay it off the principal if future rates exceed inflation, or use equity to pay it off whenever I sell the property in an estimated 10 years). Looks like rates will be 5-6% by EOY.
2) Home Equity loan fixed at 5%.  Pay off principal at sale of home in approx 10 years.
3) Cash-Out refi --- My current rate is 2.75% on $637,000 principal.  New rate would be about 3.75% on $807,000----costing me an extra $690/month in interest alone.
4) Other?

Thanks for the help!  I appreciate your input.