Best way to pull cash out of rental property?

[Kev Li]

Hello, I have a rental property that is 100% paid off with no outstanding mortgage, and the property located in a northeast state. I am currently living in the southwest. I am hoping to pull pull out the cash from the home to make a large purchase. but i've run into several issues when I apply for HELOC

1. the home is a a rental and the banks/credit unions don't allow HELOCS on rental properties

2. as mentioned the property is in the Northwest and I live in the southwest. So when I go to a credit union local to me, they dont allow me to do a HELOC because located in different states.

so may I please ask if there are any suggestions on what is the best way to pull money out in this situation from the rental home? Thank you.