Best way to tap into equity

[Amod Karve]

Hi All,

I would like some advice on the best way to tap into the accumulated equity in one of my rental properties. I am close to owning the property free and clear in the next year. The house is currently worth 410K with my equity being ~370K. The monthly cash flow is ~$200 (I know this is suboptimal, but this is my first ever home that I converted to rental, so...)

My question is: Is there a way to tap into the equity of this rental while increasing the monthly cash flow using creative financing. I'll probably end up refinancing a couple of years down the road, so open to creative suggestions. 

Thanks

Amod