Business Line of Credit vs Cash out refi

[David Taylor]

I just completed my first deal of renovating and renting my first property.  I have a question of which method I should pursue in getting more properties.  I have been doing a lot of reading about different companies doing business lines of credit, which charge 3-4k to start.  I also have a good amount of equity in our first rental.   

My question is, which method would you take?  Business line of credit or a cash out refi and extend another few thousand over the next 30 years?  And why?

David