Need Advice on how to best use my equity.

[Jeff Shaver]

Current investment property in San Diego brings in $5K a month, my net after mortgage/PM/etc. is around $650. I have roughly $550K in equity and would like to use that equity to invests in more properties. I have tried to do a HELOC but I've recently retired from the military and haven't started another W2 therefore lenders don't want to approve the HELOC. Should I sell and 1031 the equity into a apartment complex where I can increase my net per month? Also, after I do a 1031, how long do I have to wait before I can cashout refinance? Thanks for the advice.