Refi Rental property to Buy another rental property

[Saeth Gronberg]

Hello, First post here, newbie to the forum and site- looks to be a great resource! Hope this is relevant.... I own one of two rentals outright (single family)and looking to leverage it to purchase a third rental (really like the multi-family but open to single family.) We have a mortgage on our personal residence (did a cash out refinance this year to pay off the rental, consolidate loans to lower interest, and have some money to buy a lot next to our residence) and a mortgage on the second rental which is a duplex. I'd like to expand and purchase another rental but tight on extra cash at the moment. Here are some details ...

Paid off Rental: estimate an appraisal of $250K

Mortgaged Rental: $130K mortgage / appraisal of $220K

Any recommendations? I read some info on a HELOC vs ReFi but not sure what makes the most sense for my goals. Thank you in advance!