Just want to make sure im doing BRRR right?

[Eric Malone]

Im a newbie to investing as well to the Brrr method but here's the situation. 

I bought my condo for 225,000 with 3% down 3 years ago. 

I owe 199,000 to a mortgage @ 3.5% for 30 years. 

Property Assessment @ 335,000 (as of now) 

Mortgage payment $1200 plus 150 for HOA = $1350 Per Month

I rent it out at $2200 Per Month 

My question is should i refinance? and what should i refinance for (amount)? Or should i get a HELOC. I would like to reinvest but im unsure on what to do next. I have only 5000 cash on hand. But i would like to get another investment property. Any help would be great.