HELOC or cash out refi?

[Allen Rivers]

First time posting on BP but need some advice! I currently own a townhouse in Savannah Ga and I short term rent it. I bought the home a little more than a year ago for $168k with a 2.5% interest rate and now it's worth around $250k. It is a VA loan. I am living near Oklahoma City now and want to buy a duplex or triplex this year but I need more cash. Debating on whether I should do a HELOC or cash out refi and pay a higher interest rate with it. Is it even worth it at this point? Or should I wait longer before doing that? Any advice would be appreciated

Thank you in advance!