When you go for The appreciation in DEBT funding goes to you; but in EQUITY funding you have on detail how that is going to be handled.  

I have roughly $150K+ in equity in it.Refinance my 7 unit property and pull the cash out to fund this deal. 

So you have an $80K loan and $20K in equity (down payment). 

Amount of equity in the property and from there I’d probably be able to do something with that money right like take it out in equity and buy another property?

I have a monthly cash flow of $1005.00; I have a fully rehabbed property; I have almost $100k in equity.

A friend is wondering about syndicating and bringing in equity in California.

Should I obtain the HELOC now before a possible market correction (and possible loss in equity) for cost of $1000 or wait to see if I'll need that additional money at all for deal #2.If I buy a property for $200k to $400k that needs rehab, I'll probably need additional funds.

You forced $25k in equity.  

Just because you have 400k in equity doesn't mean you'll be able to afford to pull it all out. 

Want credit line product of $1,300,000 secured by $2.5 in equity, have high credit score. 48 years experience in real estate investing, management and development.