IP No2 LOC or 2nd Loan?

Would love all opinions from the forum on options of refinancing to fund deposits on 2nd IP and hopefully 3rd.

We are about to refinance with CBA to access available equity for deposits on 2 more IP's.

We are still undecided whether to go for a normal variable rate loan or a LOC?
Have read lots and seem to be a lot of for and againsts. Want to make sure we make the right decision.

We still owe 190/- on our PPOR Available equity 142/-

Proposing to:

Loan on PPOR will be P & I with Offset A/C.
20/- LOC for Personal Use (if needed)
122/- LOC or New Variable loan to fund 2 deposits

What do you guys think?
Thanks
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