Commercial LOC versus Refinancing

[Yaya Y.]

What are the pros and cons to pulling out a line of credit on a building versus refinancing? Wouldn't refinancing be more beneficial since you can individually pocket some of the funds tax free? I am aware that refinancing increases LTV and mortgage amount but I believe you can still take some home. Would anyone please offer their two cents for a scenario like this because I know of companies that have both a LOC and refinance. Just trying to specially understand when it's best to do one or the other. With a LOC, you're able to purchase properties more attractively, but isn't that the same condition with a cash out refinance? Thanks.