Home Equity on a rental Property

[Arthur Deburgo]

Is it possible to draw equity from a rental property? I have a rental that I have a substantial amount of equity in and would like to use the equity to fund another project. How difficult is it to use equity from a rental property?  Is there another avenue that I should be pursuing. I basically have all my money tied up in one project but I just came across a great deal and would like to use one of my rental property's equity to fund it.  Any help/suggestions would be appreciated.