Put yourself in the Sellers shoes… if a buyer is wanting a $120k discount and screaming at the top of their lungs that that’s what it’s worth… wouldn’t you as a Seller just then take the chance and let you go on your merry way and immediately drop the price by $5k, $10k heck even $30k ?

If I were in your shoes I would definitely lean towards the HELOC.

"Just doing it" sounds great when you're buying basketball shoes, but will lead you to financial disaster. 

Either way you’re not paying for it, seller pays for it(at least in Florida) So if I were in your shoes I would find a good realtor who will get you the best deal just my 2 cents.

If I'm in your shoes, I recommend going to a few real estate meetups to get the quickest lift for your current journey.

If you were in my shoes, what would be the best course of action you would take in order to attain your first property, get the rental income generating so I can eventually with time generate more properties and with more properties, more cash flowing in.

If I were in your shoes I would immediately network with agents and find one that understands investments.

Put yourself in the renter's shoes, how would you go about making an offer on your place? 

If in the same shoes, I'd put that tenant deposit in an interest bearing account, to return to them at the end of their lease term. 

But this may change your perspective.If I were in your shoes I wouldn't be thinking about whether or not I should refinance.