Need advice for financing situation

[Chad Fagan]

Hey all,

Could anyone offer any advice for this scenario?

Primary residence: Owed $6k @ 3.85% worth $515k 

HELOC against primary: $277k @ 4.0% variable, interest only. Repayment period starts August 2018.

Rental 1 (purchased with HELOC): Worth $210k

Rental 2 (purchased with HELOC): Worth $100k

Rental 3 (purchased with HELOC): Worth $100k

We want to buy another property worth $135k. What would be the best course of action? Does it make sense to refinance? How about lumping together the 3 rentals into a commercial loan situation?

Thank you!