Sell, cash out refi, or use HELOC?

[Sinavy Sao]

Hi all. I'm new to BP but love all the logical advice that sounds crazy to the common person.

Here's my situation:

I have a 4 plex (in CA) that I paid $700K for a few years ago (25% down) and I now owe $485K.  Its now worth about $1.4M.  Cashflow is variable between $1-3K/mo depending on repairs (avg over last 4 years is $1600/mo) and there will  likely be plumbing and roof issues that may eat into my cash flow soon.  I would like to sell and use the money to invest out of state.  

What would you choose between these 3 scenarios:

1.  Sell, walk away with $850K and do a 1031 exchange with lower cost states with multiple SVH or MFH.  I'm kind of worried we may not have enough time to complete the purchases in 6 months or be able to identify the right amount of properties in 45 days and will have to take the 30% hit in taxes! 

2. Cash out refinance.  Pull out 4-500K and use that money (tax free?) and invest out of state.  Cashflow drops to significantly to $0-1.5K/mo but still own the property.  I originally invested $175K so I'd get my invested many back.  

3. Use at HELOC($250K available) on the property to invest out of state, likely do a BRRRR.

Any helpful advice would be much appreciated!