Using HELOC or Cash-Out Refi for Down Payment on Apartment

[Josh Domingo]

Hello BP community,

I want to take advantage of the equity i've built in a couple of my properties (one is a rental and fully paid off. The other is personal residence and is 70% paid off) and use it as a downpayment on an apartment building. Based on my research, I could pull out equity via

• HELOC
• Cash-Out Refi
• Cross-collateralize both properties into a single loan and pull equity

From a commercial lending standpoint, could I use any of the above methods as a downpayment? 

My concern is that although I pulled cash out, I essentially took on more debt. Not sure if commercial banks allow investors to do this. If so, would the extra debt from a HELOC or Refinance just affect my ability to meet the underlying net worth requirements?

Would this work with Agency debt, specifically Freddie Mac Small Balance program?