Buying advise for a house in LA county/Lancaster/Palmdale/AV

[Ivan Sing]

Hi all, I am new on here and Please need some advice - I currently own an investment house (purchased as a Second Home) in Lancaster CA which I purchased in 2016. I have an equity of about 150k in my house which I would like to access. I was previously living in the Bay Area which is why I bought the house in Lancaster CA as a second home. I would like to buy now a Primary residence in Lancaster since I got a job in LA County. I might again rent this house down the road if I find the job again in Bay Area. My Question is 

Q - How should I buy this house? Should I tap into my equity in the house in Lancaster and get HELOC or should I pay the downpayment for a house as cash? (I do have 66k saved up for a property for 330k house).

I want to tap into the equity because during recession AV was hit very hard. I am worried about another recession being around the corner since house prices have inflated again, and if the recession does hit the equity in the house will be gone. I can always save cash and invest it down the road for cash purchase for a condo/apartment down the road.

Please suggest!