Refi 15/30 Or Heloc for BRRR?

[Tom De Moya]

Hello Folks, 

I am finishing up my first BRRR and have a couple of options. I took out a Heloc on my home to finance the purchase (traditional mortgage) and rehab costs of my first BRRR. The place is looking great and rented for the $$ I wanted. Would you do a refi at 15 years 5% rate at 80% LTV, 30 year at 5.75% 70%LTV, or a Heloc against this investment?

I'm shying away from the Heloc as it feels like I'd have too many balls up in the air. A refi feels final where I know my fixed costs moving forward but closing is $3k. WWBPD?